Xbrane buys Primm Pharma; signs distribution deal for lead product with Pooyesh Darou
Swedish pharmaceutical company Xbrane on Wednesday said it has acquired Italian firm Primm Pharma boosting its current portfolio to eight drug candidates and that the deal would raise the company’s potential annual revenue to $10 million.
Martin Åmark, chief executive of Xbrane, said: "Through the acquisition of Primm Pharma we are able to broaden our expertise within the field of high demand complex generics. Primm Pharma has unique expertise in microsphere-based drugs and a lead product Spherotide that we believe will become the world's first slow-release biogeneric for a sizable prostate cancer and endometriosis drug.”
The company also said it has completed a distribution deal for its lead biogeneric pharmaceutical Spherotide with the Iranian company Pooyesh Darou. No financial details were disclosed. The lead product Spherotide will primarily be used to treat prostate cancer and endometriosis and will be available in emerging markets from mid-2017.
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