IGI Laboratories acquires three injectable products from Concordia
New Jersey-based specialty generic company IGI Laboratories (NYSE MKT: IG) say it has acquired three currently marketed injectable products from privately-held US biotech firm Concordia Pharmaceuticals for $10 million in cash.
The products included in the package are: Zantac (ranitidine) injection indicated in some hospitalized patients with pathological hypersecretory conditions or intractable duodenal ulcers; Fortaz (ceftazidime) indicated for the treatment of patients with infections caused by susceptible strains of the designated organisms; and Zinacef (cefuroxime sodium) indicated for the treatment of patients with infections caused by susceptible strains of the designated organisms.
According to IMS Health data quoted by IGI, the current addressable market in the USA for these products is estimated at $26 million as of August 2015.
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