Sponsor Warburg Pincus acquires JHP Pharmaceuticals for $195m

Pharmaceuticals

Private equity firm Warburg Pincus LLC has acquired US sterile injectable products maker JHP Pharmaceuticals LLC from JHP Holdings LLC, part of Morgan Stanley Principal Investments, the target said.

The price paid is USD195m (EUR146.9m), on a debt-free, cash-free basis.

JHP Pharmaceuticals’ management team will continue to hold a stake in the company, it said.

Commenting on the acquisition, Elizabeth Weatherman, managing director and head of the Healthcare Group at Warburg Pincus, highlighted JHP Pharmaceuticals’ financial performance and record over the past five years.

As part of Warburg Pincus, JHP Pharmaceuticals will be able to embark on a more expansive strategy, which will enhance its development pipeline, JHP Pharmaceuticals co-founder Peter Jenkins noted.

Warburg Pincus plans to funnel sizable funds into JHP Pharmaceuticals to realise growth, going forward, Weatherman said.

Morgan Stanley & Company LLC served as financial advisor to JHP Holdings on the transaction. In addition, Wachtell Lipton Rosen & Katz and Duff & Phelps LLC provided legal advice and a fairness opinion, respectively, to the special committee of the vendor’s board. Willkie Farr & Gallagher LLP acted as counsel to Warburg Pincus.

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