JHP Pharmaceuticals Acquired By Warburg Pincus

                JHP Pharmaceuticals Acquired By Warburg Pincus

PR Newswire

PARSIPPANY, N.J. and NEW YORK, Dec. 31, 2012

PARSIPPANY, N.J. and NEW YORK, Dec. 31, 2012 /PRNewswire/ --JHP
Pharmaceuticals, LLC ("JHP"), a specialty pharmaceutical company that
acquires, develops, manufactures and sells sterile injectable products, today
announced that it has been acquired by an affiliate of Warburg Pincus, a
leading global private equity firm focused on growth investing, from JHP
Holdings, LLC, an entity majority-owned by Morgan Stanley Principal
Investments, for $195 million on a debt-free, cash-free basis. JHP's current
management team will continue to hold an interest in the company. Additional
terms of the transaction were not disclosed.

Since its founding in 2007, JHP has developed into a leading specialty
pharmaceutical company focused on the $30 billion U.S. sterile injectable drug
market. JHP's established market presence, high-quality sterile manufacturing
facility, and experienced management team, coupled with growth capital and
support from Warburg Pincus, will enable the company to pursue unique
partnership and acquisition opportunities in both the branded and generic
segments of the sterile injectable market.

"Over the past five years, JHP has established itself as a strong injectable
pharmaceutical business manufacturing and marketing its own branded and
generic products, developing a strong generic products pipeline, and
supporting other pharmaceutical companies in the development and manufacturing
of innovative products," said Stuart Hinchen, co-founder and CEO of JHP. "In
2013, we will launch the first products from our strong pipeline of generic
products. We believe Warburg Pincus is an ideal partner for JHP's growth and
expansion in the coming years. Warburg Pincus has deep experience in
healthcare and pharmaceuticals in particular and is well known for its proven
ability to strengthen the platforms of its portfolio companies."

"With the support of Warburg Pincus, we will be able to embrace a more
expansive strategy that will result in a considerably deeper and broader
development pipeline for JHP," said Peter Jenkins, co-founder of JHP.

"We have been impressed with the financial performance and quality record of
JHP over the last five years, and are very pleased to contribute to the
further development of the company," said Elizabeth H. Weatherman, Managing
Director and Head of the Healthcare Group, Warburg Pincus. "The management
team has done an excellent job building the company and we are delighted they
are remaining with the business and co-investing. JHP represents an
attractive investment opportunity for us and we have reserved a sizeable
amount of additional capital to fund growth opportunities that will transform
the business well beyond what it is today."


Morgan Stanley & Co. LLC acted as financial advisor to JHP Holdings, LLC, and
Wachtell, Lipton, Rosen & Katz acted as legal advisor to the Special Committee
of the Board of Directors of JHP Holdings, LLC. Duff & Phelps LLC provided a
fairness opinion to the Special Committee of the Board of Directors of JHP
Holdings, LLC. Willkie Farr & Gallagher LLP acted as legal advisor to Warburg
Pincus LLC.

About JHP Pharmaceuticals, LLC

JHP, headquartered in New Jersey, is a fully integrated specialty
pharmaceutical company that acquires, develops, manufactures and sells sterile
injectable products. JHP's sterile manufacturing facility, located in
Rochester, Michigan, sits on over 80 acres of land and includes a 171,000 sq.
ft. production building and warehouse. JHP employs more than 370 staff in the
USA in its manufacturing, product development, sales & marketing and corporate
areas. For more information, please visit www.jhppharma.com.

About Warburg Pincus

Warburg Pincus is a leading global private equity firm focused on growth
investing. The firm has more than $30 billion in assets under management. Its
active portfolio of more than 125 companies is highly diversified by stage,
sector and geography. Warburg Pincus is an experienced partner to management
teams seeking to build durable companies with sustainable value. Founded in
1966, Warburg Pincus has raised 13 private equity funds which have invested
more than $40 billion in over 650 companies in more than 30 countries.

Since inception, the firm has invested over $8.1 billion in more than 140
healthcare companies, including investments in American Medical Systems,
Bausch + Lomb, Coventry Health Care, Eurand (acquired by Axcan in 2011),
Euromedic International (acquired by Merrill Lynch Global Private Equity and
Ares Life Sciences in 2008), Harbin Pharmaceuticals, Lepu Medical Technology,
RegionalCare Hospital Partners, ReSearch Pharmaceutical Services, Rural/Metro
Corporation, Tornier and Zentiva (acquired by sanofi-aventis in 2009).

The firm is headquartered in New York with offices in Amsterdam, Beijing,
Frankfurt, Hong Kong, London, Luxembourg, Mauritius, San Francisco, Sao Paulo
and Shanghai. For more information, please visit www.warburgpincus.com.

Stuart Hinchen
973.658.3555 or stuart.hinchen@jhppharma.com

Ernie Toth
973.658.3569 or ernie.toth@jhppharma.com

Warburg Pincus
Ed Trissel / Jeffrey Smith
(212) 878-9288 / (212) 878-9205

SOURCE Warburg Pincus

Website: http://www.warburgpincus.com
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