Lannett To Buy Privately Held Silarx Pharma

(RTTNews) - Lannett Company, Inc. ( LCI) said it has signed a definitive agreement to acquire privately held, Silarx Pharmaceuticals, Inc. and a related real estate entity, a manufacturer and marketer of liquid generic pharmaceutical products.

The transaction is expected to close in early June, subject to customary closing conditions. Strategic benefits of the acquisition include an FDA-approved manufacturing facility, research and development expertise and added diversity to Lannett's portfolio of existing and pipeline products.

The boards of directors of both companies have unanimously approved the transaction.

Arthur Bedrosian, chief executive officer of Lannett, said, "… although the acquisition is not expected to have a significant impact on our financial results of operations during the next twelve months, Silarx brings an exciting pipeline and a number of complementary products to our offerings."

Silarx has a long history of outstanding regulatory compliance. Upon closing, the acquisition will add a high quality, talented research team and manufacturing capacity.

The company's entire senior management team will remain with the combined company and no layoffs or facility closings are planned.