Par pays $5.3 mil. to three Quad execs
To complete acquisition of its injectables subsidiary. Par announced May 29 that it has finalized the acquisition of the 40% minority interest in Quad previously held by Quad's Senior VP-Secretary Raja Feroz, Senior VP-Treasurer Dulal Chatterji and Exec VP Asrar Burney. The agreement in principle was announced in April. The approximately $5.3 mil. transaction involves "$2 mil. in cash, $1 mil. in Quad notes payable over a four-year period, and 408,165 shares of Par stock" valued at $5.63 per share, Par said. The resignation of the three execs, upon the closing of the deal, clears the way for Par's new management to oversee the resolution of Quad's regulatory problems arising from the generic drug scandal.
You may also be interested in...
The risk of inadvertently growing SARS-CoV-2 virus in cell and gene therapies and possibly infecting patients and workers should be assessed and mitigated, the agency advises.
Move was meant to preempt others’ efforts to secure the next six months of Regeneron’s COVID-19 antibody therapeutic.
The company is optimistic about a significant portion of eligible patients opting for its newly approved long-acting HIV therapy over daily, oral antiviral therapy.