The news last week that China-based Humanwell Healthcare Group and PuraCap Pharmaceutical have entered into a definitive agreement to acquire 100% of privately-held US generic drugs marker Epic Pharma for $550 million (The Pharma Letter April 8), seems to have a sub-text: an unidentified product license asset.
In June 2015, Elite Pharmaceuticals (OTC: ELTP) licensed SequestOX (naltrexone and oxycodone hydrochloride), then known only as ELI-200, to Epic Pharma. This was Elite’s lead opioid abuse-deterrent candidate for the management of moderate to severe pain where the use of an opioid analgesic is appropriate. Under the terms of the deal, Epic was due to pay Elite non-refundable milestone payments totaling $15 million and a royalty based on net product sales. The term of the license is five years and the license is renewable upon mutual agreement at the end of the initial term.
According to a long-term investor in Elite and other pharmaceutical companies working to help solve the opioid abuse epidemic who contacted TPL, “PuraCap wants in on the opioid market, and Elite's proprietary technology and its licensing deal with Epic was their way of gaining that access.”
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