MAPLE GROVE, Minn. — Upsher-Smith Laboratories on Monday announced that it has entered into a definitive agreement under which New Jersey-based Vertical Pharmaceuticals has acquired Upsher-Smith's rights to Divigel (estradiol gel) 0.1%, Nexa Plus Rx Prenatal Vitamin, and Provella, a probiotic dietary supplement. As part of the transaction, Upsher-Smith has transferred the new drug application for Divigel to Vertical Pharmaceuticals.
"We are pleased to reach this agreement with Vertical Pharmaceuticals, a company that is strategically focused on women's health," stated Mark Evenstad, president and CEO Upsher-Smith. "We are excited to drive our base business forward and pursue our strategic objective of providing therapies that empower people living with [central nervous system] conditions to lead healthy, productive lives through our commercial and developmental efforts."
Divigel is indicated for the treatment of moderate to severe hot flashes due to menopause.
Additional terms related to the deal have not been disclosed. Mizuho Securities served as exclusive adviser to Upsher-Smith on this transaction.