Kate H. Gamble, Senior Editor
Shionogi, Inc, the US-based group company of Shionogi & Co, Ltd, has announced that it is acquiring all currently marketed products from Victory Pharma, Inc, including 7 medications to treat pain and 2 for infectious diseases.
The products, which are all approved by the FDA, will be marketed by Shionogi’s existing sales force. Terms of the acquisition stipulate a cash payment in the amount of $118 million at closing, with up to $9 million in additional milestone payments.
The transaction is currently subject to expiration of the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended, and to other customary closing conditions. It is anticipated that the transaction may close this month.
“Shionogi, Inc is committed to providing patients with innovative products to treat pain and infectious diseases, and the addition of these products to our current portfolio will provide us with an immediate presence in this market as we continue to develop related products in our pipeline,” said John Keller, PhD, president and CEO of Shionogi, Inc, in a statement
. “This acquisition will further establish Shionogi in the United States, particularly in these key therapeutic areas, while generating growth in the short term and building a platform for future products in the longer term.”
The acquisition includes Victory’s lead product Naprelan, a once-daily controlled release formulation of naproxen sodium, a non-steroidal anti-inflammatory drug. Additionally, Shionogi Inc. will obtain marketing rights for pain management products Rybix ODT, XODOL, Fexmid 7.5mg, Dolgic Plus, Zebutal and Magnacet as well as anti-infectives Moxatag and Keflex.