Mylan Inc. Scoops Up Injectable Arixtra For $300 Million From Aspen Global Inc.
September 10, 2014
By Krystle Vermes, BioSpace.com Breaking News Staff
Mylan Inc. announced today that its subsidiary, Mylan Ireland Limited has agreed to acquire the U.S. commercialization, marketing and intellectual property rights of Arixtra, an injection designed for the prophylaxis of deep vein thrombosis.
Arixtra, which is part of Aspen Global Incorporated, is already being sold through an interim distribution arrangement. Mylan will also acquire the rights to the authorized generic version of Arixtra. Apotex, which is currently selling the generic version of the drug, will be transitioning to Mylan Institutional by the end of 2014.
Arixtra is also known as fondaparinux sodium. Mylan will pay Aspen $225 million once the transaction is complete. An additional $75 million will be held in escrow and released under certain conditions.
"DVT/PE is a serious health concern that is estimated to affect up to 600,000 people in the U.S.,” said Mylan CEO Heather Bresch. “The addition of Arixtra is an attractive opportunity to broaden the range of therapeutic categories we market in the U.S., in both the hospital and retail settings and bolster our growing portfolio of complex injectables to better meet our customers' needs."
Arixtra and its generic version had U.S. sales of $18.8 million and $95.3 million over the course of 12 months ending on June 30, 2014.
Deep vein thrombosis happens with a blood clot forms in deep veins of the body, typically in the leg. It can occur as a result of a lack of physical activity, and it can quickly become a serious condition when blood clots that break loose within the veins can travel into the lungs. This can result in a pulmonary embolism, which requires immediate medical attention.
Arixtra works by preventing blood clots that form after hip, knee or stomach surgery. It is typically used specifically in people who are at risk for thromboembolic complications.
Mylan is a global pharmaceutical company with a portfolio of more than 1,300 pharmaceuticals and numerous brand medications. Mylan also offers antiretroviral therapies that 40 percent of HIV/AIDS patients in developing countries utilize frequently. Its workforce includes about 30,000 people and the company operates in 140 countries and territories.