Galena Biopharma acquires Mills Pharmaceuticals
US drugmaker Galena Biopharma (Nasdaq: GALE) revealed that it has acquired Mills Pharmaceuticals, which has the worldwide rights to GALE-401 (Anagrelide CR), a patented, controlled-release formulation of anagrelide.
Galena expects to pursue the expedited 505(b)(2) regulatory pathway to seek approval of GALE-401 for the treatment of essential thrombocythemia (ET). The company also believes GALE-401 meets the qualifications for orphan drug status. GALE-401 has an estimated peak market size of around $200 million in the USA.
Financial terms
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