Strategic Acquisition Diversifies Company’s Portfolio and Provides New Options for Migraine Patients
Upsher-Smith Laboratories, LLC today announced that it has agreed to acquire US and other territory rights for Tosymra™ (sumatriptan nasal spray) 10 mg and Zembrace® SymTouch® (sumatriptan injection) 3 mg from Dr. Reddy’s Laboratories Limited. The products are currently commercialized through Dr. Reddy’s wholly owned subsidiary, Promius Pharma LLC. Under the terms of the agreement, Dr. Reddy’s is eligible to receive an upfront payment, future milestone payments and sales-based royalties.
The closing of the transaction is subject to various customary closing conditions including antitrust review under the Hart-Scott-Rodino Act.
“This agreement underscores Upsher-Smith’s commitment to significantly expanding its pipeline and diversifying its product portfolio through both internal development and targeted acquisition,” said Rusty Field, President and CEO, Upsher-Smith. “These two products are a great strategic fit for our company, and we look forward to working with Promius Pharma to ensure a smooth product transition.”
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Date: June 17, 2019
Source: Cision
