Pharma manufacturer Lannett has completed its ‘transformational acquisition’ of Kremers Urban Pharmaceuticals for around US$1.23 billion.
Lannett has acquired KU from global biopharma UCB S.A, subject to certain adjustments, to create a major player in the drugs sector.
KU is a highly profitable business that extends our size, scale and reach.
With the acquisition, Lannett have expanded and strategically diversified our product portfolio and pipeline, and added complementary research and development expertise.
The combined company generated pro-forma revenues of more than $800 million for the 12 months ended June 30, 2015. KU brings a diversified commercial product portfolio of 18 products; a strong pipeline that includes 11 product applications pending at the FDA, of which five include Paragraph IV certifications, and 17 product candidates in various stages of development, including one 505(b)(2) product opportunity; and a recently inspected 300,000 square foot manufacturing facility in Seymour, Indiana. In addition, Lannett believes that there is an opportunity for synergies through enhanced efficiencies and economies of scale.