Valeant acquires Amarin’s U.S. drug company
Valeant to acquire Amarin's U.S. pharmaceutical business for $46 mil. The purchase will expand Valeant's CNS business (which includes Mestinon for myasthenia gravis) by adding Amarin's Parkinson's therapies Permax (pergolide) and Zelapar (rapid-dissolving selegiline), which is "approvable" at FDA. Amarin retains exclusive U.S. rights to LAX-101, in Phase III for Huntington's Disease. The Valeant deal will help cover Amarin's outstanding financial obligations of $24.4 mil. to Elan regarding Zelapar (1"The Pink Sheet" Aug. 6, 2001, p. 36)...
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Amarin plans to file an NDA for rapid-dissolving selegiline formulation Zelapar in the first half of 2002 following the acquisition from Elan of U.S. rights to the Parkinson's treatment. London-based Amarin (formerly Ethical Holdings) will also promote the Parkinson's therapy Permax (pergolide) with 24 reps; the product generated sales of $40 mil. in 2000
Licensing agreements and bolt-on acquisitions to strengthen its R&D pipeline are still in Bayer’s sights as the COVID-19 pandemic and currency devaluations have led to the need for job cuts and substantial cost savings at the big pharma company.
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