Bridgewater-based Amneal Pharmaceuticals Inc. announced Monday its subsidiary, Creo Pharmaceuticals Ltd., has been acquired by Zentiva Group.
Creo Pharma operates Amneal’s commercial operations in the United Kingdom, Amneal said.
“We believe that the value created by our commercial operations in the U.K. will be better maximized by Zentiva, which will gain additional products and enhanced competitive market share position as a result of this transaction,” Rob Stewart, CEO and president of Amneal, said. “This transaction will permit Amneal to concentrate management time and resources to support our continued focus on strengthening our growing position in the U.S. market.”
Financial terms were not disclosed.