Actavis Buys Antibiotic Vaginal Gel for $55 Million
Actavis, Inc. and Valeant Pharmaceuticals International, Inc. recently announced that Actavis Specialty Brands has acquired worldwide rights to Valeant’s Metronidazole 1.3% Vaginal Gel antibiotic development product, a topical antibiotic for the treatment of bacterial vaginosis.
Under the terms of the agreement, Actavis Specialty Brands is acquiring the product for approximately $55 million, which includes upfront and certain milestone payments, and minimal royalties for the first 3 years of commercialization. In the event of generic competition on Metronidazale 1.3%, should Actavis choose to launch an authorized generic product, the company would share the gross profits of the authorized generic with Valeant.
“We believe this compound has significant potential to help patients in need of new treatment,” said Laizer Kornwasser, Executive Vice President and Company Group Chairman at Valeant.
“We are very pleased to acquire the rights to an additional potential product that further expands our Women’s Health development pipeline, and look forward to the ultimate launch of the product,” added Fred Wilkinson, President, Actavis Specialty Brands. “Assuming a filing of later this spring, Metronidazole could potentially launch in the US in mid-2014.”
Actavis, Inc. is a global, integrated specialty pharmaceutical company focused on developing, manufacturing, and distributing generic, branded generic, specialty brand, and biosimilar products. The company has global and US headquarters in Parsippany, NJ, and international headquarters in Zug, Switzerland. For more information, visit www.actavis.com.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures, and markets a broad range of pharmaceutical products primarily in the areas of dermatology, neurology, and branded generics. For more information, visit www.valeant.com.
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