ANI Pharmaceuticals Acquires US Rights To Shire's Vancocin
By Cyndi Root
ANI Pharmaceuticals announced in a press release that it has acquired the U.S. rights to Vancocin (vancomycin) from Shire. ANI paid cash for the rights and acquired existing product stores in the transaction. Arthur S. Przybyl, ANI’s President and CEO, stated that his company will immediately begin marketing efforts for the products. He said of the acquisition, “Year to date we have invested $23 million in two mature brand acquisitions that will contribute a combined $9.4 million in annual revenues and $8 million in annual non-GAAP EBITDA.”
ANI and Shire Agreement
ANI acquired Vancocin 125 mg and 250 mg capsules from Shire. The company acquired the approved ANDA for vancomycin hydrochloride injectable 500 mg, 1 gm, and 10 gm (currently non-marketed). ANI also bought the oral hydrochloride solution in 250 and 500 mg. The agreement calls for ANI to pay Shire $11 million in cash, which will include existing inventories of the drugs. ANI stated that it will market Vancocin under its own label, with commercialization scheduled for the end of 2014. The company expects sales of Vancocin to reach $5.4 million annually and $4 million in non-GAAP EBITDA annually.
Vancocin
Vancocin (vancomycin) is glycopeptide antibiotic, prescribed to treat intestinal inflammation (colitis, diarrhea) acquired after treatment with antibiotics. The drug works to kill bacteria in the intestine, but it does not work for viral infections, cold, flu, or infections in other parts of the body. Vancomycin was discovered by an Eli Lilly scientist in the 1950’s. When the patent expired in the 1980s, the Food and Drug Administration (FDA) allowed generic products.
About ANI
ANI is a specialty pharmaceutical company that develops, manufactures, and markets generic pharmaceuticals including hormones, steroids, narcotics, and oncolytics (anti-cancers). ANI’s Mr. Przybyl addressed his company’s strategy in the press release, stating, “We are continuing to advance our internal generic product development pipeline while selectively pursuing acquisitions and partnerships that augment those efforts.”
In July 2014, ANI announced that it acquired the Lithobid (lithium carbonate extended release 300 mg tablets) New Drug Application (NDA) from Noven Therapeutics. In June 2014, the company signed an exclusive license and supply agreement for an undisclosed drug from Dexcel. The agreement calls for Dexcel to continue seeking FDA approval while ANI agrees to market it in the U.S.