DALLAS & CARY, N.C. & VERONA, Wis.--(BUSINESS WIRE)--Neos Therapeutics, Inc. (“Neos”), a specialty pharmaceutical company with a portfolio of novel and proprietary oral drug delivery technologies as well as a late-stage pipeline of innovative extended release (“XR”) products for Attention Deficit Hyperactivity Disorder (“ADHD”), announced today the completion of the acquisition of all of the commercialization and profit rights to its Hydrocodone Polistirex and Chlorpheniramine Polistirex Extended Release Suspension Product from its collaboration partners Chiesi USA, Inc., and Coating Place, Inc.
The antitussive/antihistamine combination product is a generic equivalent of the product currently sold under the Tussionex® brand name. The product is indicated for the relief of cough and upper respiratory symptoms associated with allergy or a cold in adults and children six years of age and older. According to Symphony Health Solutions, a third-party provider of prescription data, there were approximately 2.5 million total prescriptions of Tussionex® and related generic products in 2013.
“We are pleased to acquire the full rights to this product as we believe that there is a significant opportunity to expand our sales given the demand within the market. Antitussives are among the most commonly prescribed medications for the treatment of coughs and colds,” said Dr. Vipin K. Garg, President and CEO of Neos. “Establishing a commercial presence is a natural progression for Neos as its late-stage ADHD pipeline moves forward in the approval process,” he added.
“This transaction is in alignment with our strategy to focus our growth of the company in the hospital and related specialty markets,” said Ken McBean, President of Chiesi USA. “We are pleased that Neos, our manufacturing partner for the product, will now have the opportunity to also market this product.”
“We are committed to continuing our relationship with Neos as its exclusive supplier of the drug resin complexes used in the suspension,” added Tim Breunig, CEO of Coating Place, Inc.
About Neos Therapeutics
Neos Therapeutics, Inc. is a fully integrated specialty pharmaceutical company. The Company is initially focusing on ADHD with three proprietary products in late-stage development that provide patient-friendly dosage forms incorporating controlled and extended release oral disintegrating tablets (ODT) and liquid suspensions. In addition, Neos manufactures and markets a Generic of Tussionex®, for the treatment of cough and cold. The Company’s products are developed and manufactured using its proprietary and patented ion resin technology. For more information, visit www.neostx.com.
About Chiesi USA, Inc.
Chiesi USA, Inc., headquartered in Cary, N.C., is a specialty pharmaceutical company focused on commercializing products for the hospital and adjacent specialty markets. Key elements of the Company's strategy are to focus its commercial and development efforts in the hospital and adjacent specialty product sector within the U.S. pharmaceutical marketplace; continue to seek opportunities to acquire companies, marketed or registration-stage products and late-stage development products that fit within the Company's focus areas; and generate revenues by marketing approved generic products through the Company's wholly-owned subsidiary, Aristos Pharmaceuticals, Inc. Chiesi USA, Inc. is a wholly-owned subsidiary of Chiesi Farmaceutici S.p.A. For more information, visit www.chiesiusa.com.
About Chiesi Farmaceutici S.p.A.
Chiesi Farmaceutici is a research-focused international group, with more than 75 years of experience headquartered in Parma (Italy). Chiesi researches, develops and commercializes innovative pharmaceutical solutions in the respiratory therapeutics and specialist medicine areas. In 2013, Chiesi achieved sales of over 1.2 billion Euros, constituting double digit growth over 2012. Its R&D centers in Parma (Italy), Paris (France), Rockville (USA), Chippenham (UK) and the R&D team of the newly-acquired Danish company Zymenex, integrate their efforts to advance Chiesi's pre-clinical, clinical and registration programs. The Chiesi Group employs approximately 3900 people, 480 of whom are dedicated to R&D activities. For more information, please visit www.chiesi.com.
About Coating Place, Inc.
Coating Place is an innovative pharmaceutical company specializing in Wurster fluid bed technology focused on drug delivery system development and contract manufacturing. We provide our customers with modified & extended release bulk active products through cutting-edge development, unique manufacturing capabilities and integrated quality philosophy. CPI’s extended release drug-resin API’s are developed using our patented DRC Technology combined with our trade secret linear scale-able Wurster manufacturing process. For more information, please visit www.coatingplace.com.
Tussionex® is a registered trademark of the UCB Group of companies.
This press release contains certain forward-looking statements that include projections and may also include words such as may, will, expects, believes, anticipates, plans, estimates, seeks, could, intends, and other similar expressions. These forward-looking statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from what is expressed in or indicated by the forward-looking statements.