Validus Pharma gets rights to six Novartis drugs in USA
USA-based Validus Pharmaceuticals (NYSE: VR) together with Wood Creek Capital Management, have acquired USs rights to six well-known product lines, patent protection on which has now expired, from the US subsidiary of Swiss drug major Novartis (NOVN: VX). No financial terms were revealed.
The products in questions are: Lopressor (metoprolol tartrate USP) but excluding Lopressor (metoprolol tartrate) Injection, Lopressor HCT (metoprolol tartrate USP + hydrochlorothiazide USP), Lotensin (benazepril HCl), Lotensin HCT (benazepril HCl + hydrochlorothiazide USP), Parlodel (bromocriptine mesylate USP) and Methergine (methylergonovine maleate).
Wood Creek acquired the Novartis products on August 29, 2012 through a new company, US Pharmaceuticals Holdings. Validus will serve as the exclusive manager for the ex-Novartis lines. These products present Validus with opportunities to generate sales in several new therapeutic markets and represent a significant growth catalyst for the company.
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