Alliant Pharmaceuticals Acquires Two New Drugs For ADHD And Completes Private Placement Financing
ATLANTA, June 1 /PRNewswire/ -- Alliant Pharmaceuticals, Inc. -- an emerging pediatric specialty pharmaceutical company, announced today that it has acquired the exclusive U.S. marketing rights to two products for Attention Deficit Hyperactive Disorder from Mallinckrodt Inc., a business unit of Tyco Healthcare. Terms of the acquisition agreement were not disclosed.
Mark Pugh, President and CEO of Alliant Pharmaceuticals said, "The acquisition of these two therapies is a significant milestone for our long- term growth which will form the basis for our aggressive development and marketing of products focused in the area of pediatrics and pediatric specialties."
In 2003, the total ADHD market in the U.S. was approximately $1.8 billion and grew at an average annual growth rate of 20% from 2002 to 2003. The market is expected to reach $4 billion in the next 5 years. "Our strategy is to acquire products that will provide solutions to unmet medical needs, in growing markets, and deliver value to the patient and the physician."
Alliant Pharmaceuticals also announced that it has received funding through a private equity placement to complete the transaction and build the company's sales infrastructure. The funding was provided by EJ Financial of Lake Forest, IL, which provides financing and strategic advice to early stage health care concerns that display high growth potential.
Alliant Pharmaceuticals, Inc. is a Pediatric Specialty Pharmaceutical company that was formed to develop and market a portfolio of pharmaceutical products to pediatricians and pediatric specialty physicians. Alliant Pharmaceutical's management team and board have over 150 years combined leadership experience in the pharmaceutical industry. The team includes three former pharmaceutical company chief executive officers and a chief financial officer. The team has experience in acquiring, developing and launching prescription pharmaceutical products. In addition, they have a track record of greatness in delivering top line sales results and handsomely rewarding employees and shareholders.
Contact Information Mark Pugh 205-423-8437 email: markpugh@alliantpharma.com
Alliant Pharmaceuticals, Inc.CONTACT: Mark Pugh of Alliant Pharmaceuticals, Inc., +1-205-423-8437, ormarkpugh@alliantpharma.com
Web site: http://www.alliantpharma.com/