Sagent buys Canadian drugmaker for $85M

Sagent Pharmaceuticals Inc. has completed its purchase of Canadian drugmaker Omega Laboratories Ltd.

The Schaumburg-based maker of injectable drugs paid about $85 million for Omega. Sagent said the deal opens up opportunities for international expansion, especially in Canada, Europe and Southeast Asia. In addition, Montreal-based *Omega invested heavily in research and development.

“This acquisition marks a significant milestone in realizing our strategic vision to broaden our portfolio, expand our pipeline and extend our global footprint,” Sagent chairman and CEO Jeffrey Yordon said in a news release.

Sagent said the sale was finalized Oct. 1 and expects it to immediately add to the company’s earnings.