Upsher-Smith Laboratories Enters Into Agreement To Acquire Tosymra™ (sumatriptan nasal spray) And Zembrace® SymTouch® (sumatriptan injection)
Strategic Acquisition Diversifies Company's Portfolio and Provides New Options for Migraine Patients
MAPLE GROVE, Minn., June 13, 2019 /PRNewswire/ -- Upsher-Smith Laboratories, LLC (Upsher-Smith) today announced that it has agreed to acquire US and other territory rights for Tosymra™ (sumatriptan nasal spray) 10 mg and Zembrace® SymTouch® (sumatriptan injection) 3 mg from Dr. Reddy's Laboratories Limited. The products are currently commercialized through Dr. Reddy's wholly owned subsidiary, Promius Pharma LLC. Under the terms of the agreement, Dr. Reddy's is eligible to receive an upfront payment, future milestone payments and sales-based royalties.
The closing of the transaction is subject to various customary closing conditions including antitrust review under the Hart-Scott-Rodino Act.
"This agreement underscores Upsher-Smith's commitment to significantly expanding its pipeline and diversifying its product portfolio through both internal development and targeted acquisition," said Rusty Field, President and CEO, Upsher-Smith. "These two products are a great strategic fit for our company, and we look forward to working with Promius Pharma to ensure a smooth product transition."
Upsher-Smith Laboratories, LLC is a trusted U.S. pharmaceutical company that strives to improve the health and lives of patients through an unwavering commitment to high-quality products and sustainable growth. Since 1919, it has brought generics and brands to a wide array of customers backed by an attentive level of service, strong industry relationships, and dedication to uninterrupted supply.
As Upsher-Smith celebrates its 100-year anniversary, the company enters a new ambitious era that has been accelerated by its 2017 acquisition by Sawai Pharmaceutical Co., Ltd. Upsher-Smith and Sawai plan to leverage each other for growth worldwide and embark on an exciting new chapter as they seek to deliver the best value for their stakeholders, and most importantly, Do More Good™ for the patients they serve. For more information, visit www.upsher-smith.com.
About Promius Pharma LLC
Promius Pharma is a wholly-owned subsidiary of Dr. Reddy's Laboratories, one of the largest and most respected pharmaceutical companies in the world. Promius Pharma is committed to bringing new products to market that meet patients' needs. For more information, log on to: www.promiuspharma.com.
About Dr. Reddy's
Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy's operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com.
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SOURCE Upsher-Smith Laboratories, LLC
Company Codes: Bombay:500124, NYSE:RDY, India:EQDRREDDY