Acquisition strengthens Clinigen’s position in dexrazoxane market
March 31, 2014
Clinigen Group plc the specialty global pharmaceutical company today announces the acquisition of SAVENE® (dexrazoxane) from SpePharm AG, a majority owned affiliate of Norgine B.V. The Financial terms of the acquisition are not being disclosed.
SAVENE is indicated for the treatment of extravasation in anthracycline chemotherapy in adults. Extravasation occurs when anticancer drugs, normally injected into a vein, leak or are accidentally injected into tissue surrounding the vein where they can cause serious damage. SAVENE is the only authorized treatment of its kind available. Its use within the first six hours of extravasation occurring is crucial and enables affected patients to continue their anticancer treatment.
SAVENE has Orphan Drug status and protection until late 2016 with a worldwide method of use patent until 2020. In 2013 the sales were approximately €3.8million.
Under the terms of the agreement, Clinigen will assume full responsibility for SAVENE’s manufacturing, registration, distribution, and commercialization in all markets globally excluding the Americas, Israel and South Africa. In Japan, Clinigen will provide SAVENE through an existing supply and license agreement with Kissei Pharmaceutical Co. Ltd, the marketing authorization holder.
In 2013 the Group also acquired Cardioxane® from Novartis which, like SAVENE, has dexrazoxane as its active substance and is also an oncology support therapy; used to prevent the cardiotoxicity of anthracyclines for patients with advanced and/or metastatic breast cancer. The acquisition of SAVENE allows Clinigen to exploit synergies between the two products.
Peter George, Chief Executive Officer, Clinigen Group, said: “In acquiring both SAVENE and Cardioxane, Clinigen will expand its strategic options in oncology support and consolidate its supply chain. The acquisition was a natural move for us and is in line with our stated strategy to expand our specialty pharmaceuticals portfolio.”
David Bryant, Senior Vice President, Clinigen SP, said: “This is the fourth product to be added to our specialty pharmaceuticals portfolio. This acquisition has helped strengthen our position in the oncology support area, adding SAVENE to Cardioxane and Foscavir®. We continue to focus on the acquisition of niche, hospital-only therapies which have the potential to save the lives of critically ill patients.”
See the release here.