Everett Laboratories, Inc., a subsidiary of Madrid-based Exeltis, has acquired Quinnova Pharmaceuticals, Inc. from parent company Amneal Enterprises, LLC. The acquisition diversifies Everett’s presence in the U.S. specialty pharmaceutical market in the areas of women's health and dermatology. Quinnova will gain access to Everett’s resources, including its R&D capabilities, development, marketing, intellectual property, and business development to expand its product portfolio and advance its pipeline.
Lucas Sigman, chief executive officer of Everett Laboratories, said, "We believe dermatology is a very attractive opportunity for Everett in the U.S. market and after an extensive search, we found Quinnova to be a great organization to help us grow this business. Quinnova offers important synergies for Everett with its innovative and entrepreneurial culture, as well as its dedicated and focused sales team, which is similar to Everett. With strong technology platforms and a robust pipeline of new products, we believe with the addition of Quinnova, Everett will accelerate its growth trajectory and be well positioned to become a market leader in women's health and dermatology in the very near future. In addition, the acquisition provides opportunities for growth for Exeltis by allowing the Company to leverage the Quinnova portfolio of products and technology platform to grow the dermatology business globally."