PINE BROOK, N.J.--(BUSINESS WIRE)--Alvogen Pharma US, Inc. (“Alvogen”), the U.S. subsidiary of a multinational pharmaceutical company, today announced it has finalized a transaction with Shionogi Inc., acquiring the exclusive right to commercialize NAPRELAN® (naproxen sodium) controlled-release tablets, 375 mg, 500 mg, and 750 mg, in the United States. The product will be marketed by Almatica Pharma Inc., a subsidiary of Alvogen.
In a separate transaction, Alvogen also acquired all rights and interest in the New Drug Application (“NDA”) for NAPRELAN® from Stat-Trade, Inc. According to IMS Health data, NAPRELAN® had annual U.S. sales of $58 million in 2012.
”Alvogen’s acquisition of NAPRELAN® delivers on yet another strategic objective by further strengthening and diversifying our growing branded portfolio in the U.S. market,” said Darren Alkins, President, Alvogen Americas.
Alvogen is a multinational, privately-owned pharmaceuticals company, focused on developing, manufacturing and distributing generic, brand, over-the-counter brands (OTC) and biosimilar products. With more than 200 pharmaceutical projects in development and registration, the group’s product portfolio consists of a broad range of leading molecules for the treatment of conditions in the fields of oncology, cardiology, respiratory, neurology and gastroenterology. Alvogen has commercial operations in over 30 countries with 1,900 employees. North America is Alvogen’s single largest market.
Visit http://www.naprelanus.com/ for further information on Naprelan® tablets.
NAPRELAN® is a registered trademark of Alvogen Pharma US, Inc.