Mayne Pharma USA has entered into an agreement to acquire branded pharmaceutical assets from Forest Laboratories for $12 million, with an upfront payment of $10 million, plus as much as $2 million payable quarterly based on future product sales. The products include pain drugs ESGIC, ESGIC PLUS, LORCET and LORCET PLUS brands and related assets.
Additionally, Mayne had also recently acquired the branded ZEBUTAL trademark and related assets in the U.S. from Shionogi Inc., which had sales of $5 million in the 12 months ending December 2013.
“This agreement, combined with the recent acquisition from Shionogi, demonstrates Mayne Pharma’s commitment to growing its business platform within North America,” said. “Our company possesses the strength and agility to respond quickly when new and attractive business opportunities arise, and I fully expect that we will enter into more acquisitions and partnerships like these in the months to come.”
ESGIC tablets and capsules and ZEBUTAL capsules are used to treat tension headaches, and LORCET tablets are indicated for the relief of moderate to moderately severe pain. These products had IMS Health sales of $10 million in the 12 months ending December 2013. The total current annual market for these products, including their generic versions, is more than $400 million, according to IMS Health.