ACETO unit buys generic drug distributor

|By:, SA News Editor

Rising Pharmaceuticals, a wholly-owned subsidiary of ACETO Corp. (ACET), signs a definitive purchase agreement to acquire PACT Pharmaceuticals, a marketer and distributor of generic prescription and OTC products.

The cash-and-stock deal is worth $100M. The initial payment is $80M in cash and $5M in ACETO stock. Earn-outs total $15M based on achieving certain performance-based targets over the next three years.

The acquisition will enable the firm to expand further into the finished dosing drug business.