Mayne to acquire Kapanol from GSK
December 14, 2012
$14m Mayne Pharma acquisition.
Mayne Pharma Group Limited has just confirmed a significant boost to its sales force, after signing a binding agreement to acquire the Kapanol modified release oral opioid from GlaxoSmithKline.
The company's ceo Scott Richards said Kapanol represents a "natural bolt-on opportunity for Mayne Pharma, enabling us to now market and distribute this product in Australia in addition to manufacturing it".
"We know the product well and have been manufacturing the product for GSK for almost 20 years," he said.
Kapanol will provide the foundation to establishing a "specialty product franchise in Australia," he added, with the acquisition providing scale to invest in a sales force to reinvigorate sales of the opioid and support other existing products such as Astrix, Dorix, Eric and Magnoplasm.
Richards said the move would also position Mayne Pharma as a "more attractive in-licensing partner for international specialty pharmaceutical companies and their products".
The deal is valued at up to $14m, with Mayne Pharma funding the acquisition via a fully underwritten equity placement of $18m.
More information in Monday's Pharmacy Daily.
The above article was sent to subscribers in Pharmacy Daily's issue from 14 Dec 12To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 14 Dec 12
