DuPont Generics Sold To Employee Group
DuPont Merck Pharmaceutical is selling its generics and multi-sourcebusiness lines to a group of company executives for an undisclosed amount of cash, the firm has announced.
The company will be known as Endo Pharmaceuticals, similar to the name used by DuPont Merck's generics business, and will be headed by Carol Ammon, who is currently president of DuPont Merck in North America.
The acquisition will be a leveraged buyout, with Chase Financing providing the debt financing. Kelso & Co and senior management will provide equity financing.
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