The FTC cleared the transaction under the Hart-Scott-Rodino Antitrust Improvement Act. Under the terms of the agreement, Luitpold purchased 100% of PharmaForce stock and the closing was completed on December 29, 2009. The PharmaForce product line will be marketed by Luitpoldâs subsidiary, American Regent, Inc.
PharmaForce, Inc., founded in 1999, is focused on the manufacture, development and marketing of difficult to manufacture sterile products and sole source or first-tomarket generic injectable products. PharmaForce, headquartered in Columbus, Ohio, operates out of three facilities, including a 40,000 sq ft cGMP compliant sterile manufacturing facility, a 20,000 sq ft R&D facility, and a 20,000 sq ft facility targeted for API manufacturing.
Mary Jane Helenek, President and CEO of Luitpold said, "The acquisition of PharmaForce is another important step in the implementation of Luitpold's strategic plan to further diversify our product portfolio and generate additional growth for Luitpold and its wholly owned subsidiary, American Regent, Inc. This acquisition provides an immediate expansion of our R&D pipeline, increased manufacturing capacity and establishes a base from which to move forward with different injectable dosage forms to take advantage of the fast growing generic injectable market."
Luitpold's legal and financial advisers on the transaction were Sheppard Mullin Richter & Hampton LLP and Aquilo Partners, LP.
PharmaForce's legal and financial advisers were Bricker & Eckler LLP and William Blair & Company, LLC
About Luitpold Pharmaceuticals, Inc.
Luitpold Pharmaceuticals, Inc., headquartered in Shirley, NY, manufactures and distributes over 65 pharmaceutical products including Venofer® (iron sucrose injection, USP), the leading IV iron therapy in the U.S., through its human health subsidiary, American Regent, Inc. Luitpold Pharmaceuticals, Inc., a Daiichi Sankyo group company, also markets dental bone regeneration products and veterinary pharmaceuticals through its Osteohealth and Animal Health divisions. Daiichi Sankyo Company, Ltd., established in 2005 after the merger of two leading century-old Japanese pharmaceutical companies, is a global pharmaceutical innovator, continuously generating innovative drugs that enrich the quality of life for patients around the world.