Lannett gains generic product portfolio from Endo subsidiary
Generic drug manufacturer Lannett has acquired the product portfolio of an Endo International subsidiary.
Lannett announced the news on Monday, May 7.
The US-based company said it has acquired 23 approved drug product applications from a subsidiary of Endo International, a rival generic drug manufacturer. It has also acquired one pending drug product application.
The portfolio of generic products consists of oral solutions and some semi-solid products, according to the release. The acquired products will be manufactured at Lannett’s liquid generics facility in Carmel, New York.
Lannett manufactures more than 100 unique pharmaceutical product families including stomach ulcer therapies, tuberculosis antibiotics, and antidepressants.
Endo’s products include testosterone injections, nasal sprays to treat vitamin deficiencies, and bladder medicine.
Tim Crew, CEO of Lannett, said the acquisition of commercially-ready products alongside its previously approved products creates “new, near-term revenue and profitability streams”.
He added that the company will launch the products under the Lannett label as soon as the deal is final, which is expected to be in the second half of 2019.
In the 12 months before March 2018, combined sales of the acquired products were in excess of $175 million. As part of the deal, Endo will receive an upfront payment as well as future milestone payments.
Earlier this year, Lannett suffered defeat at the US District Court for the District of Delaware when the court held that the generic manufacturer failed to prove that AstraZeneca’s patents relating to a nasal were invalid.
Endo was the subject of a lawsuit filed by the Federal Trade Commission in March 2016 which alleged that the pharmaceutical company had blocked generic competition of some of its products. The matter was settled last year when Endo abandoned its anti-competitive pay-for-delay agreements.
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