JHP Buys Production Plant from King Pharma

JHP Pharmaceuticals (Saddle River, NJ) says it has bought a sterile manufacturing facility at Rochester, MI; 12 legacy products manufactured at the plant; and a related contract manufacturing business, from King Pharmaceuticals (Bristol, TN) for about $90 million. The agreement awaits regulatory approval, and the companies expect to close the deal during the third quarter. The $90-million payment is subject to final inventory adjustments. The current net book value of the assets covered by the deal, including inventory, is about $151 million. King Pharma expects...

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