Hospira Adds Orchid Generic Antibiotic Unit For $400M

Law360, New York (December 16, 2009, 5:26 PM EST) -- Building on an existing relationship, Hospira Inc. has added Orchid Chemicals & Pharmaceuticals Ltd.'s generic injectable antibiotics business in a deal valued at about $400 million.

The deal will bring Chennai, India-based Orchid's beta-lactam antibiotics business under Hospira's growing umbrella. Beta-lactam antibiotics include penicillin and its derivatives. Orchid is among the five largest beta-lactam antibiotics producers in the world, according to Hospira.

The boards of directors of both companies have signed off on the deal, which is expected to close in the first quarter of 2010,...
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