Actavis acquires rights to chronic pain drug
MORRISTOWN, N.J. Actavis has acquired the rights to a drug used to treat chronic pain from King Pharmaceuticals, the United States subsidiary of the Icelandic generic drug maker announced Tuesday.
Actavis said that it bought the drug Kadian, an extended-release morphine sulfate drug, for about $127.5 million, based on milestones related to quarterly sales up to June 30, 2010.
“The acquisition of Kadian is the latest step in Actavis? strategy to expand our specialty drug portfolio and is well-aligned with our emphasis on bringing complex, controlled-release products to the marketplace,” Actavis chief executive officer Doug Boothe said in a statement. “Kadian has enjoyed significant market share, and we are excited about its continued prospects as a drug that benefits many patients.”
FDA tentatively approves Seroquel generic
JERUSALEM The Food and Drug Administration has given tentative approval to a generic version of AstraZeneca’s antipsychotic Seroquel.
Teva announced last Tuesday that the FDA had granted the tentative approval for generic Seroquel (quetiapine fumarate) in 25 mg, 50 mg, 100 mg, 150 mg, 200 mg, 300 mg and 400 mg strengths.
The branded version of the drug had sales of about $3.8 billion in the United States for the 12 months ending Sept. 30, according to IMS Health data.
Teva expects to receive final approval after resolving patent litigation with AstraZeneca.
Zerit generic gets FDA approval
PITTSBURGH The Food and Drug Administration has approved a generic version of Bristol-Myers Squibb’s Zerit by Mylan’s Indian subsidiary, Mylan announced Tuesday.
The FDA approved Matrix Labs? stavudine capsules USP in 15 mg, 20 mg, 30 mg and 40 mg strengths. The drug is an antiretroviral used to treat HIV infection in combination with other antiretroviral drugs. The branded version of the drug had sales of about $54 million in the 12 months ending Sept. 30, according to IMS Health data.
Mylan owns a 71.5% stake in Matrix.