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Sun Pharmaceutical Industries Ltd has announced a licensing deal with Sun Pharma Advanced Research Co.
SPARC is the research subsidiary of India's leading drug maker, Sun Pharma.
The deal will see SPARC giving the licence of Elepsia XRTM or levetiracetam extended-release tablets, as they are generically called, to a 100% subsidiary of Sun Pharma for the US market and receiving an upfront payment of $10 million for it.
Martindale Pharma, the UK- based international specialty pharma company, today announced it has completed the acquisition of Viridian Pharma, a UK-based developer and supplier of niche pharmaceutical products.
Viridian Pharma has developed five products all of which have regulatory approval in the UK and represent first-to-market specialty hospital-prescribed medicines.
Martindale Pharma has been working with Viridian Pharma to manufacture and market the two key caffeine citrate products, and has built a strong market share of the neonatology or Special Care Baby Units in the UK over the past 10 years, exclusively using the Martindale/Viridian caffeine citrate range.
Completion of Mayne Pharmas acquisition is expected to be concurrent with the closing of Tevas acquisition and is subject to the FTC approving that transaction and Mayne Pharmas acquisition of the Portfolio.
Mayne Pharmas CEO, Scott Richards, said: The acquisition transforms Mayne Pharmas Generic Products Division into a top 25 player in the U.S.
This Portfolio will strongly complement Mayne Pharmas existing generic portfolio and lead to greater operational efficiencies due to economies of scale.
The deal was part of the biggest generic drug divestiture overseen by the Federal Trade Commission and Mayne Pharma bought the most products.
The newly bought portfolio makes Mayne Pharma becomes the second major provider of generic oral contraceptives and moves the company into the top 25 retail generic pharmaceutical firms in the United States.
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