Leiner/PFI
This article was originally published in The Tan Sheet
Executive Summary
Leiner Health Products completes its acquisition of "substantially all" assets related to Pharmaceutical Formulations' (PFI) "solid dose pharmaceutical products business" for $23 mil. in cash, Leiner announces Sept. 26. In addition to opportunities in pain management in both OTC and supplement areas, the acquisition "allows us to enhance our contract manufacturing capabilities and expands our OTC product offering and customer base," CEO Robert Kaminski says. Leiner concurrently announces that it has amended its credit agreement, which "will enhance the company's flexibility to manage the business and support the acquisition." Leiner's plans to acquire PFI's assets were made known shortly after the Edison, N.J.-based company declared bankruptcy in July (1"The Tan Sheet" July 18, 2005, p. 4)...