Sanofi sells US drug rights to Covis; Prices bond issue
Privately held Swiss specialty drug firm Covis Pharma has reached agreement with a USA-based unit of French drug major Sanofi (Euronext: SAN) to acquire full commercial rights for Nilandron (nilutamide), Plaquenil (hydroxychloroquine), Rilutek (riluzole), Uroxatral (alfuzosin hydrochloride), and Kayexalate (sodium polystyrene sulfate) in the USA.
The aggregate sales for these products in the USA in 2012 were $114.6 million. Sanofi will retain the existing rights for these products in countries outside the USA. Terms of the agreement have not been disclosed.
"We are very pleased to announce the addition of these products to our existing portfolio," said Jack Davis, chief executive of Covis Pharma, adding: "Covis will continue to supply consistent, top quality, branded pharmaceuticals, ensuring that patients receive the therapeutic care they need."
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