Vernalis buys US rights to tonsillitis/ pharyngitis drug Moxatag

UK-based Vernalis (LSE: VER) on Friday said it has acquired the US rights to Moxatag (amoxicillin) from US firm Pragma Pharmaceuticals for an undisclosed up-front cash payment.

The company will also pay Pragma Pharmaceuticals a further sum following the manufacture of re-launch finished dose product. The product re-launch is expected by the end of 2015.

Ian Garland, chief executive of Vernalis, said: "The acquisition of Moxatag is another important step in our transition to a commercial specialty pharmaceutical company. We are delighted that we have been able to quickly expand our primary care product portfolio and leverage our newly established US commercial infrastructure following the recent US launch of Tuzistra XR, our extended-release cough cold oral suspension.  Moxatag has a strong fit with our target physician audience for Tuzistra XR and we look forward to re-launching the product in early 2016 and to its contribution to our commercial business”.