Laboratorios Richmond S.A.C.I.F. acquired the remaining 40% stake in Penn Pharmaceuticals S.A. from Jorge Romani for $11 million on March 20, 2012. Post acquisition, Penn Pharmaceuticals will be dissolved. The merger will be effective on August 1, 2013. Laboratorios Richmond S.A.C.I.F. completed the acquisition of the remaining 40% stake in Penn Pharmaceuticals S.A. from Jorge Romani on March 20, 2012.