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Lannett to purchase Silarx Pharmaceuticals

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PHILADELPHIA — Lannett Co. plans to acquire Silarx Pharmaceuticals Inc., a manufacturer and marketer of liquid generic drug products.

Financial terms of the agreement, which includes a related real estate entity, weren’t disclosed. Lannett said Monday that the boards of directors of both companies have unanimously approved the transaction, which is expected to be completed in early June, pending customary closing conditions.

Co-founded in 1986 by Rohit Desai, Silarx manufactures and markets liquid pharmaceuticals, including generic prescription and over-the-counter products. The company recently moved into a 110,000-square-foot facility in Carmel, N.Y.

Lannett noted that Silarx was the first company to secure U.S. approval for a generic version of Viiv Healthcare’s Epivir (lamivudine) 10mg/ml oral solution, an antiviral medication for HIV and hepatitis B. By challenging Viiv’s U.S. patent, which expires on Sept. 20, 2018, Silarx secured 180-day generic market exclusivity and launched the product this past March.

Silarx also is the only manufacturer of loratadine oral solution, equivalent to the active ingredient of OTC allergy medicine Claritin, with the Food and Drug Administration-approved indication of hives relief, according to Lannett.

Other key products from Silarx include the antidepressants citalopram oral solution (equivalent to the active ingredient of Celexa) and fluoxetine oral solution (equivalent to the active ingredient of Prozac).

“We look forward to welcoming Silarx to the Lannett family,” stated Arthur Bedrosian, chief executive officer of Lannett.  “Upon closing, the acquisition will add a high-quality, talented research team and manufacturing capacity. In addition, although the acquisition is not expected to have a significant impact on our financial results of operations during the next 12 months, Silarx brings an exciting pipeline and a number of complementary products to our offerings.”

Lannett said Silarx’s entire senior management team will remain with the combined company, and no layoffs or facility closings are planned.


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