Sagent Pharmaceuticals, Inc. has acquired Montreal-based Omega Laboratories for $85.3 million in cash. The acquisition expands Sagent’s generic injectable business with a product portfolio, development pipeline, and a strong global presence.  
 
Omega currently markets 93 products in more than 40 countries. Its pipeline consists of 26 generic injectable drugs scheduled to launch between 2014 and 2019. Omega’s generic injectable and specialty pharmaceutical portfolios have produced a compound annual growth rate (CAGR) of 23% with C$36.5 million revenues in 2013.
 
“Omega is a well-respected leader in the specialty pharmaceutical space, with a highly experienced management team, and a strong track record of developing and producing quality products,” said Jeffrey Yordon, chairman and chief executive officer of Sagent. “The transaction augments our operational capacity in the near-, and more importantly, long- term by leveraging our existing infrastructure and partner network to optimize production across a broader base while continuing the investment in expanding Omega’s manufacturing capabilities. This approach will fulfill growing demand for FDA approved facilities and products and maintain a consistent supply of quality products to the marketplace.”
 
Francois Angers, president and chief executive officer of Omega, added, “We are very excited to join the Sagent team. Together we have the resources, skills and capabilities to build a global leader in the generic injectable space. Importantly, this transaction supports our growth objectives by providing access to Sagent’s robust product portfolio and supporting our planned capacity expansion in Montreal. We look forward to continuing to build upon the strong growth momentum and solid infrastructure that has benefited both companies in recent years.”