Alvogen Pharma US, Inc. (“Alvogen”), the U.S. subsidiary of a multinational pharmaceutical company, today announced it has finalized a transaction with Shionogi Inc., acquiring the exclusive right to commercialize NAPRELAN® (naproxen sodium) controlled-release tablets, 375 mg, 500 mg, and 750 mg, in the United States. The product will be marketed by Almatica Pharma Inc., a subsidiary of Alvogen.
In a separate transaction, Alvogen also acquired all rights and interest in the New Drug Application (“NDA”) for NAPRELAN® from Stat-Trade, Inc. According to IMS Health data, NAPRELAN® had annual U.S. sales of $58 million in 2012.
”Alvogen’s acquisition of NAPRELAN® delivers on yet another strategic objective by further strengthening and diversifying our growing branded portfolio in the U.S. market,”
said Darren Alkins, President, Alvogen Americas.