Mayne takes on pain
February 12, 2014
Mayne Pharma Group Limited
this morning announced the
acquisition of a number of pain
products from Forest Laboratories
Inc in the USA.
The deal, valued at up to US$12
million, includes the Esgic, Esgic
Plus, Lorcet and Lorcet Plus brands
along with related assets.
Esgic tablets and capsules are
used to treat tension headaches,
while Lorcet tablets are indicated
for the relief of moderate to
moderately severe pain.
According to IMS Health, the
products had sales of US$5 million
over the last year, with the total
current annual market for these
products, including generic versions
thereof, estimated at more than
US$400 million.
Mayne Pharma ceo Scott
Richards said, “This acquisition is a
significant opportunity for Mayne
Pharma USA to expand its product
portfolio into selected branded
products to complement the
generic products franchise.
“These products will strengthen
our business by growing our
revenue base and further
diversifying our portfolio.”
Mayne is funding the purchase via
an $18m share placement.
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