PHARMACY

Verus announces sale of pediatric asthma program to AstraZeneca

BY Allison Cerra

Verus Pharmaceuticals, a pediatric-oriented specialty pharmaceutical company, announced today that AstraZeneca, has acquired its pediatric asthma development programs, the company announced last month.

Under the terms of the agreement, Verus said it will be receiving an upfront payment of $30 million, and a potential earn-out payment of $280 million.

Included in the transaction are the North American rights to a Captisol enabled budesonide solution (controller medication), a proprietary short-acting beta agonist solution (rescue medication), a customized version of eFlow (novel nebulizer delivery device) for use with both medications, and other intellectual property and related assets from Verus.

“We are excited to have completed this transaction with AstraZeneca, the North American leader in pediatric asthma treatment innovation, and are eager to collaborate with them to address the multiple unmet medical needs in this rapidly expanding patient population,” said Robert W. Keith, president and COO of Verus. “This transaction allows us to refocus our time and resources on our other emerging development programs, including those targeting unmet needs associated with related atopic diseases and conditions.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

PHARMACY

Mylan announces new appointments

BY Drew Buono

PITTSBURGH Upon the news of the acquisition involving Merck’s KGaA generic business by Mylan, Mylan released a group of statements regarding new appointments to positions within the company worldwide.

The appointments include: Harry Korman as President, North America; Rajiv Malik as Executive Vice President in charge or Global Technical Operations; Carolyn Myers, Ph.D. President-elect of Dey; Christy Taylor as Chief Operating Officer of Dey; Didier Barret as President of Europe, Middle East, and Africa; Heather Bresch as Chief Operating Officer; and John Montgomery as President, Asia Pacific.

Mylan acquired Merck’s generics for $6.8 billion in cash.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

PHARMACY

FDA approves Afluria flu vaccine

BY Drew Buono

AUSTRALIA The Food and Drug Administration has approved CSL’s flu vaccine Afluria, according to The Australian.

The company expects to ship two million doses as part of its first shipment to the U.S. between mid-December and early February. The company expects to increase its export to 20 million doses over the next four years.

“We’ve entered the US market quite late, but over the next few years we hope to increase our export of flu vaccine to the US to 20 million doses,” CSL’s Dr Rachel David said.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES