Juno Pharmaceuticals Canada has picked up Montreal-based drugmaker Omega Laboratories for an undisclosed price.
The deal makes the combined companies among the largest specialty generic injectable providers in the country, Juno said in a Monday release.
With the addition of Omega, Juno plans to bring more than 100 new products to the Canadian market in the next four years. These planned launches include products for pain management, allergies, diabetes and obesity, the company said in a May 15 press release.
Financial terms of the acquisition weren’t disclosed. Bloom Burton Securities represented Juno as financial advisers, and Aird & Berlis acted as legal counsel to the company.
“Combining Omega’s manufacturing expertise and Juno’s commercial strength, we are creating a formidable player within Canada’s pharmaceutical industry,” Bruce Levins, Juno’s chief operating officer, said in the release.
With the deal, Juno picks up Omega’s recently opened injectables manufacturing facility, which is already approved by Health Canada and the FDA.
Juno also said the deal will help strengthen Canada’s health system by relieving some of the current and future drug shortages facing patients in the country.
Omega was acquired by Sagent Pharmaceuticals in 2014. Sagent was then snapped up by Japan’s Nichi-Iko Pharmaceutical in 2016 as part of a $736 million all-cash deal.