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JHP Pharmaceuticals Acquired by Warburg Pincus

Published: Friday, January 04, 2013
Last Updated: Thursday, January 03, 2013
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Warburg Pincus acquires JHP for $195 million on a debt- free, cash-free basis.

JHP Pharmaceuticals, LLC has announced that it has been acquired by an affiliate of Warburg Pincus from JHP Holdings, LLC, an entity majority-owned by Morgan Stanley Principal Investments, for $195 million on a debt- free, cash-free basis.

JHP’s current management team will continue to hold an interest in the company. Additional terms of the transaction were not disclosed.

Since its founding in 2007, JHP has developed into a leading specialty pharmaceutical company focused on the $30 billion U.S. sterile injectable drug market.

JHP’s established market presence, high-quality sterile manufacturing facility, and experienced management team, coupled with growth capital and support from Warburg Pincus, will enable the company to pursue unique partnership and acquisition opportunities in both the branded and generic segments of the sterile injectable market.

“Over the past five years, JHP has established itself as a strong injectable pharmaceutical business manufacturing and marketing its own branded and generic products, developing a strong generic products pipeline, and supporting other pharmaceutical companies in the development and manufacturing of innovative products,” said Stuart Hinchen, co-founder and CEO of JHP.

Hinchen continued, “In 2013, we will launch the first products from our strong pipeline of generic products. We believe Warburg Pincus is an ideal partner for JHP’s growth and expansion in the coming years. Warburg Pincus has deep experience in healthcare and pharmaceuticals in particular and is well known for its proven ability to strengthen the platforms of its portfolio companies.”

“With the support of Warburg Pincus, we will be able to embrace a more expansive strategy that will result in a considerably deeper and broader development pipeline for JHP,” said Peter Jenkins, co-founder of JHP.

“We have been impressed with the financial performance and quality record of JHP over the last five years, and are very pleased to contribute to the further development of the company,” said Elizabeth H. Weatherman, Managing Director and Head of the Healthcare Group, Warburg Pincus.

Weatherman continued, “The management team has done an excellent job building the company and we are delighted they are remaining with the business and co-investing. JHP represents an attractive investment opportunity for us and we have reserved a sizeable amount of additional capital to fund growth opportunities that will transform the business well beyond what it is today.”

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