FLORHAM PARK, N.J.—Shionogi Inc., the U.S.-based groupcompany of Shionogi & Co. Ltd., reports that it has entered into an agreement to acquire all currently marketed products fromVictory Pharma Inc., including seven treatments for pain and two forinfectious diseases. The products, which are all U.S. FDA-approved, will be marketed by Shionogi's existingsales force.
The terms of the deal, which could close as early as July 26, stipulate a cash payment in theamount of $118 million at closing with as much as $9 million in additionalmilestone payments. The transaction is currently subject to expirationof the waiting period under the Hart Scott Rodino Antitrust ImprovementsAct of 1976, as amended, and to other customary closing conditions.
"Shionogi Inc. is committed to providing patients with innovativeproducts to treat pain and infectious diseases, and the addition ofthese products to our current portfolio will provide us with animmediate presence in this market as we continue to develop relatedproducts in our pipeline," says Dr. John Keller, president and CEO of Shionogi Inc. "This acquisition will furtherestablish Shionogi in the U.S., particularly in these key therapeuticareas, while generating growth in the short term and building a platformfor future products in the longer term."
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Read MoreAt the centerpiece of the announcement is Victory's lead productNaprelan, a once-daily controlled-release formulation of naproxensodium, a non-steroidal anti-inflammatory drug (NSAID). Additionally,Shionogi Inc. will obtain marketing rights for pain management productsRybix ODT, XODOL, Fexmid 7.5mg, Dolgic Plus, Zebutal and Magnacetas well as anti-infectives Moxatag and Keflex.
