BATON ROUGE, La. — OncBioMune Pharmaceuticals signed a non-binding term sheet with Teva Pharmaceuticals to acquire norepinefrine in Mexico. This agreement can also extend to other Latin American countries.
“Mexico is one of the top five emerging markets globally, principally with generics. Teva has a broad portfolio of generics that are overlapping in some strategic markets, which presented an opportunity for us to acquire another revenue-generating drug,” said Jonathan Head, Ph. D., Chief Executive Officer at OncBioMune. “We intend to remain aggressive in our acquisition strategy to grow our high specialty footprint in Mexico and across all of Central and South America to capitalize on the burgeoning markets. Pending the unexpected, I anticipate a definitive agreement and our acquisition of Norepinefrine during the second quarter of 2017, with commercialization efforts to commence shortly thereafter.”
The term sheet confirms mutual interest and sets forth guidelines for OncBioMune to acquire the sanitary registration and intellectual property rights of Norepinefrine currently owned by Teva. Norepinefrine is approved in Mexico as indicated for the treatment of low blood pressure and heart failure.
Baton Rouge-based OncBioMune is a clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a proprietary Vaccine Technology that is designed to stimulate the immune system to attack its own cancer while not hurting the patient.