ATLANTA--(BUSINESS WIRE)--Galt Pharmaceuticals announced the acquisition of a specialty branded product from Fortovia Therapeutics. Effective December 2, 2020, Galt added Oravig®, the first and only orally-dissolving buccal tablet for oral thrush, to its growing portfolio of pharmaceutical assets.
“We are thrilled to add a branded product with distinctive clinical benefits to our growing product portfolio," stated Barry Patel, CEO and co-founder of Galt. “We are committed to offering unique products that support unmet clinical needs to improve patients’ quality of life."
Oral thrush is an infection of the mouth caused by the Candida fungus, also known as yeast. The condition can affect people of all ages including older adults and those with weakened immune systems.
The deal represents a large market opportunity for the Atlanta-based pharmaceutical company. Of the approximately 28 million total prescriptions currently written, filled and dispensed for oral thrush annually in the U.S., more than 22 million are filled for oncology and primary care patients, according to IQVIA Health.
Wade Smith, PharmD, chair and co-founder of Galt added, "Oravig is a specialty product that fits nicely in our phranchise distribution model. It is the third product in our portfolio in as many years. We look forward to supplying Oravig to our phranchisees – just as we have Doral and Orphengesic Forte – both of which achieved record sales in 2020.”
Galt will launch Oravig in Q1 2021 through its unique phranchise sales and distribution model that leverages collaboration with independent pharmacies.
Visit www.Oravig.com for important safety information and full prescribing information.
About Galt Pharmaceuticals
Galt Pharmaceuticals has found a better way to enhance the quality of life of patients with products that answer unmet clinical needs, while creating life-changing opportunities for entrepreneurs, our employees and the individuals within the communities we serve.
Galt is the first and only company to create a unique pharmaceutical franchise or “Phranchise” concept that moves product representation away from corporate headquarters into local communities. Phranchises provide education to local healthcare providers while Galt manages functions such as drug research, regulatory approval, compliance and supply chain.
Learn more at www.GaltRX.com.
Oravig is the first and only muco-adhesive buccal tablet formulation of miconazole approved to treat oropharyngeal candidiasis (OPC), also known as oral thrush, in adult patients in the United States.
Do not use Oravig if there is a known or suspected hypersensitivity to any of its ingredients. Allergic reactions, including anaphylactic reactions and hypersensitivity, have been reported with the administration of miconazole products, including Oravig. Discontinue Oravig immediately at the first sign of hypersensitivity.
You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.