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Par Pharmaceuticals acquiring JHP

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Woodcliff Lake-based Par Pharmaceutical announced Tuesday its acquisition of Parsippany-based JHP Group Holdings, parent company of JHP Pharmaceuticals. Transaction terms were not immediately disclosed.

According to the announcement, Par is acquiring JHP for its injectable products and its Michigan manufacturing plant. JHP will become a wholly-owned subsidiary of Par.

Par expects to complete the transaction in the first quarter 2014. Ropes & Gray LLP served as legal counsel to Par Pharmaceutical Companies. J.P. Morgan Securities LLC served as financial advisor and Willkie Farr & Gallagher LLP served as legal counsel to JHP Group Holdings, Par said in a statement.

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