Sagent Pharmaceuticals Announces Closing of Initial Public Offering of Common Stock and Exercise of Over-Allotment Option

SCHAUMBURG, Ill., April 26, 2011 /PRNewswire/ -- Sagent Pharmaceuticals, Inc. (the "Company") (Nasdaq: SGNT) today announced that it has closed its previously announced initial public offering of 5,750,000 shares of its common stock at a price to the public of $16.00 per share.  In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 862,500 shares of common stock from the Company.  As a result, the total initial public offering size was 6,612,500 shares of common stock.

Morgan Stanley, BofA Merrill Lynch, and Jefferies acted as the joint bookrunners for the offering.  Needham & Company, LLC and RBC Capital Markets acted as the co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 19, 2011.  The offering is being made only by means of a prospectus, copies of which may be obtained from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at 1-866-718-1649, or by e-mail at [email protected]; from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or by e-mail at [email protected]; or from Jefferies, 520 Madison Avenue, 12th Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by telephone at (877) 547-6340, or by e-mail at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Sagent Pharmaceuticals

Sagent Pharmaceuticals, Inc., founded in 2006, is a specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products.  Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients.

SOURCE Sagent Pharmaceuticals, Inc.