(RTTNews) – Amneal Pharmaceuticals, Inc. (AMRX) and Kashiv BioSciences LLC have entered into a definitive agreement under which Amneal Pharmaceuticals LLC, a unit of the company, will acquire a 98% interest in Kashiv Specialty Pharmaceuticals, a subsidiary of Kashiv. Amneal expects the deal will be financially accretive by approximately $15 million of adjusted EBITDA on an annualized basis.
Amneal will pay an upfront purchase price comprised of: a cash payment of $70 million at the closing; and a cash payment of $30 million at the one-year anniversary of the execution of the purchase agreement. Kashiv is also eligible to receive up to an additional $8 million in contingent payments. Amneal has also agreed to pay Kashiv certain royalty payments.
Chirag Patel, Co-Chief Executive Officer, said: “With this acquisition, Amneal will gain an exciting pipeline of valuable 505(b)2 branded products primarily in neurology and endocrinology, where we have a well-established commercial infrastructure, as well as a valuable pipeline of complex generics.”
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