Ferring Pharmaceuticals, Inc. Acquires Cytokine PharmaSciences for Undisclosed Amount
Ferring is already well-established in the field of reproductive health and believes that the acquisition of CPSI/CTS will strengthen its position over the next few years. It is Ferring’s second major investment in the therapeutic field in two years, having purchased the global marketing rights for LYSTEDA® (tranexamic acid) for the treatment of heavy menstrual bleeding, in May 2010.
“This acquisition advances our vision to become the global scientific and commercial leader in reproductive health, and perfectly complements our already strong portfolio of obstetrics products including TRACTOCILE® (atosiban) and PABAL® (carbetocin). In addition, the acquisition includes the manufacturing assets for dinoprostone marketed by Forest Laboratories, Inc. as CERVIDIL® in the US and Canada, and by Ferring as PROPESS® elsewhere. This acquisition gives us the opportunity to integrate the product portfolio into Ferring on a global basis and to extend our presence in this important field,” commented Michel Pettigrew, President of the Executive Board and COO at Ferring.
CTS has also developed a strong pipeline of women’s healthcare products, including the misoprostol vaginal insert which is intended to be marketed in the US and Canada as MISODEL® and in Europe and the rest of the world as MISOPESS®. It is anticipated that the new treatment will be filed for FDA approval in 2012.
It is estimated that there are 130 million babies born globally each year and, depending on the country, that labour induction rates range from 15% to 30% of all births. Treatments for cervical ripening are set to play an increasingly prominent role in the delivery process.
About Ferring Pharmaceuticals:
Headquartered in Switzerland, Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of reproductive health, urology, gastroenterology and endocrinology. Ferring has its own operating subsidiaries in more than 50 countries and markets its products in more than 70 countries. To learn more about Ferring or our products please visit www.ferring.com.
About Cytokine PharmaSciences
Cytokine PharmaSciences, Inc. is a specialty pharmaceutical company engaged in developing anti-inflammatory and autoimmune therapeutics. The Company is headquartered in King of Prussia (near Philadelphia), Pennsylvania. A wholly owned subsidiary, Controlled Therapeutics (Scotland) Limited (CTS), is located in East Kilbride (near Glasgow). CTS develops and manufactures controlled-release drug delivery products and has a strong focus in the area of women’s health. For more information, please visit the company’s websites at www.cytokinepharmasciences.com and www.ctscotland.com.
Note: Trademarks are either registered or pending and property of their respective owners.
For further information, contact:
Helen Gallagher
Tel. +41 58 301 0051
helen.gallagher@ferring.com
or
Patrick Gorman
Tel. +41 58 301 0053
patrick.gorman@ferring.com