Hughes Hubbard Reps Epic Pharma in $550M Sale to Humanwell, PuraCap


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Hughes Hubbard & Reed acted as legal counsel to Epic Pharma in its $550 million sale to China’s Humanwell Healthcare Group and New Jersey’s PuraCap Pharmaceutical.

The acquisition was announced on March 31 and is expected to close in the second quarter of 2016. The deal will expand the buyers’ commercial and manufacturing capabilities, as well as their presence in the US generics market.

Founded in 2008, the Laurelton, NY-based Epic Pharma manufactures a broad range of generic prescription drugs and offers contract manufacturing services.

As part of the deal, the buyers will acquire Epic’s portfolio of 15 marketed generic products consisting of tablets, two-piece capsules and powder dosage form products as well as a pipeline of 37 products that includes controlled drug substances. The buyers will also inherit a 110,000-square-foot “good manufacturing practice” facility in Laurelton, NY where 215 employees work.

Founded in 1993, Humanwell specializes in investing, developing and managing healthcare companies. PuraCap oversees two companies: PuraCap Pharmaceutical, focused on prescription brand-name drugs, and PuraCap International, which markets prescription generics and over-the-counter and private-label brands.

Ken Lefkowitz landed the business after reading a story in The Deal Pipeline about Epic Pharma retaining Jefferies & Co. for a potential sale in late September 2015 and reached out to Epic Pharma’s CEO Ashok Nigalaye. Lefkowitz touted the firm’s credentials and secured a meeting with Nigalaye in October 2015. Epic retained the firm shortly after the meeting.

The Hughes Hubbaed team included David Schwartz, Sarah Downie, Alex Anderson, Matt Syrkin, Steve Greene, Erin DeCecchis, Carol Remy, Christine Lamsvelt and Justin Cohen.