WOODCLIFF LAKE, N.J. — Par Pharmaceutical has bought rights to a generic drug for gastroesophageal reflux disease from Handa Pharmaceuticals, Par said.
Handa, based in Fremont, Calif., sold rights to the regulatory approval application it filed with the Food and Drug Administration for dexlansoprazole capsules, a generic version of Takeda's Dexilant, in the 60-mg strength.
Par purchased rights to the application for an undisclosed amount and will receive a percentage of profits from sales. Handa is apparently the first company to file for approval of the generic, which would qualify Par for 180 days of market exclusivity once the FDA approves it; Handa is currently involved in a lawsuit concerning the drug in the U.S. District Court for the District of Northern California, and Par will assume control of litigation.
Dexilant has annual sales of about $517 million, according to IMS Health.