Jones Medical Completes Abana Deal
Jones Medical Industries of the USA has completed the acquisition of USfirm Abana Pharmaceuticals. Jones Medical issued an aggregate of around 420,000 shares of its common stock in exchange for the 84% of Abana held by other investors.
Abana markets specialty prescription pharmaceuticals, principally branded generic products used by internists in the treatment of chronic conditions and respiratory ailments. Jones Medical acquired a 16% stake in the company in 1992.
Jones Medical has made 15 strategic acquisitions, four of which were completed in the past 14 months. The Abana deal enhances its physician sales force.
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