31st Mar 2014 08:57
LONDON (Alliance News) - Clinigen Group PLC said Monday that it had acquired oncology support therapy treatment Savene from SpePharm AG, a majority owned affiliate of Netherlands based Norgine B.V.
Savene is used to treat the leakage, or accidental injection, of anti-cancer drugs into tissue surrounding the vein, which can cause serious damage. Savene has an Orphan Drug status, giving it market exclusivity until 2015, and has a worldwide method of use patent until 2020.
In 2013, sales of Savene were around EUR3.8 million. No financial details of the acquisition were disclosed.
Clinigen will take over the manufacture, registration, distribution and commercialisation in all markets except the Americas, Israel and South Africa. In Japan, Clinigen will provide Savene through an existing supply and license agreement with Kissei Pharmaceutical Co Ltd, which has marketing authorisation.
The new acquisition compliments Clinigen's acquisition of Cardioxane form Novartis AG in 2013, which also is an oncology support therapy.
"The acquisition was a natural move for us and is in line with our stated strategy to expand our specialty pharmaceuticals portfolio," Chief Executive Peter George said in a statement.
Shares in Clinigen were trading up 1.4% at 527.00 pence Monday morning, having reached 541.50p earlier in the morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
CLIN.L