Anticompetitive acquisition forces generics sale

Home/Pharma News | Posted 08/05/2015 post-comment0 Post your comment

US generics maker CorePharma has had to sell its rights of two generics in order to merge with fellow US drug company Impax Laboratories (Impax). The US Federal Trade Commission (FTC) ruled that Impax’s acquisition of CorePharma would have been anticompetitive unless CorePharma sold its rights and assets for pilocarpine, a drug used to treat dry mouth and glaucoma, and ursodiol, a treatment for liver and gall bladder diseases.

88 MD002468

The merger came as Impax completed its acquisition of Tower Holdings, which includes the generics subsidiaries CorePharma and Amedra. Impax will now be reorganized into two divisions: an ‘Impax Generics’ division and a brand-name products division called ‘Impax Specialty Pharma’.

‘The acquisition significantly expands our commercialized generic portfolio to 47 [drug] products and the number of potential generic [drug] product launches in 2015 of up to 18 products, nine of which are already approved’, said Mr Fred Wilkinson, President and Chief Executive Officer of Impax.

Only two companies, Lannet and Actavis, currently market pilocarpine tablets, according to the FTC. Although CorePharma was not selling the drug, it held an abbreviated new drug application (ANDA) from the US Food and Drug Administration (FDA) to market it in the US.

Rights to the two drugs have now been acquired by Ireland-based generics company Perrigo, which acquired the Irish biotech firm Elan in 2013 [1]. Impax and CorePharma must provide support to help Perrigo obtain FDA approval.

Related article
Impax settles patent dispute with Genzyme

Reference
1.   GaBI Online - Generics and Biosimilars Initiative. Perrigo expands global ambitions with Elan buy [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2015 May 8]. Available from: www.gabionline.net/Pharma-News/Perrigo-expands-global-ambitions-with-Elan-buy

Permission granted to reproduce for personal and non-commercial use only. All other reproduction, copy or reprinting of all or part of any ‘Content’ found on this website is strictly prohibited without the prior consent of the publisher. Contact the publisher to obtain permission before redistributing.

Copyright – Unless otherwise stated all contents of this website are © 2015 Pro Pharma Communications International. All Rights Reserved.

Source: Impax Laboratories

comment icon Comments (0)
Post your comment
Related content
Swiss Social Democrat’s for nationalization of Sandoz
28 MD002360
Home/Pharma News Posted 19/11/2021
Most viewed articles
About GaBI
Home/About GaBI Posted 05/08/2009
EU guidelines for biosimilars
EMA logo 1 V13C15
Home/Guidelines Posted 08/10/2010