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Warburg Pincus gets 3x return from JHP exit

22 Jan 2014

pharmaceutical 12_sqPrivate equity firm Warburg Pincus is set to make a return of three times from the sale of specialty pharmaceutical company JHP Group.

The firm has agreed to sell the company to Par Pharmaceutical Companies, which is backed by TPG Capital, for $490m, according to a document filed with US securities regulators.

Warburg acquired JHP for $195m in 2012 from Morgan Stanley Principal Investments. The firm received dividends of around $100m from JHP prior to the sale and will make a return of three times on its investments, said Dow Jones.

Warburg is still interested in the US sterile injectable drug market, which is estimated to be worth $30bn, said the report, citing a source.

TPG bought Par in a take-private deal with an equity value of $1.9bn in july 2011.

The companydevelops, manufactures and markets high-barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals.

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