Par Pharmaceutical Companies Inc. said that it closed its $410 million deal for Irvine-based generic drug maker Anchen Pharmaceuticals Inc.
Woodcliff Lake, N.J.-based Par bought Anchen to expand its generic drug offerings as a number of patent expirations approach.
Anchen has about 200 workers and develops generic drugs on a niche basis. Its products include generic versions of the popular antidepressant Wellbutrin XL and Cipro, a drug that’s used to treat anthrax and bacterial infections.
Par has said that Anchen is profitable and expects to introduce eight to 10 niche generic drugs over the next two years.
