20th Aug 2014 07:07
LONDON (Alliance News) - Pharmaceutical company Clinigen Group PLC Wednesday said it has acquired the global rights to oncology support therapy, Ethyol, from AstraZeneca PLC.
Ethyol is a drug used to reduce the incidence of the side effect of xerostomia, or dry mouth, in patients undergoing post-operative radiation treatment for head and neck cancer.
In 2013, Ethyol revenue was approximately USD4.9 million.
This is the second product Clinigen has acquired from AstraZeneca, having acquired the anti-viral Foscavir drug from it in 2010.
Clinigen said the acquisition of Ethyol now expands its specialty pharmaceuticals division to five products.
It didn't disclose the financial terms of the deal, but said it will be paid for in 'milestone related stage payments' linked to the transfer of manufacturing.
Clinigen shares were up 3.9% at 416.81 pence early Wednesday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
AstrazenecaCLIN.L