Lannett Company, Inc., a generic drug company, has agreed to acquire privately held, Silarx Pharmaceuticals, Inc. and a related real estate entity, a manufacturer and marketer of liquid generic pharmaceutical products. The transaction is expected to close in early June, 2015, subject to customary closing conditions. The boards of directors of both companies have unanimously approved the transaction.

Silarx, co- founded in 1986 by Rohit Desai, manufactures and markets liquid pharmaceutical products, including generic prescription and over-the-counter products. The company has recently moved into a 110,000 square foot facility located in Carmel, New York.

Silarx gained US approval for a generic version of Viiv Healthcare's Epivir(lamivudine) 10 mg/mL oral solution. By challenging Viiv's U.S. patent, which expires on September 20, 2018, Silarx secured 180-day generic market exclusivity and launched the product in March 2015. Silarx is also the manufacturer of loratadine oral solution (equivalent to the active ingredient of Claritin) with the FDA approved indication of “hives-relief.” Additional key products include citalopram oral solution (equivalent to the active ingredient of Celexa) and fluoxetine oral solution (equivalent to the active ingredient of Prozac).

Source: Silarx Pharmaceuticals