CUMBERLAND, R.I.--(BUSINESS WIRE)--Collegium Pharmaceutical, Inc., a specialty pharmaceutical company, today announced that Lupin has acquired all worldwide rights to AllerNaze™ (triamcinolone acetonide, USP) Nasal Spray, 50 mcg. AllerNaze™ is an aqueous based intranasal steroid (INS) product indicated for the once daily treatment of nasal symptoms associated with both seasonal allergic rhinitis (SAR) and perennial allergic rhinitis (PAR) in adults and children twelve (12) years of age and older that was approved by the U.S. Food and Drug Administration (FDA) in January 2009.
AllerNaze™ will compete in the approximately $2.5 billion a year United States market for INS products for the treatment of allergic rhinitis. Allergic rhinitis is the most common allergic condition and is increasing in prevalence. Allergic rhinitis is the medical term for the inflammation of the nasal membranes and is characterized primarily by a runny nose, which is the most common allergy symptom. SAR is the most common allergic disease. Approximately 40 million Americans suffer from this condition.
“The acquisition of AllerNaze™ by Lupin, with its global pharmaceutical presence will maximize the potential for this product in both the United States as well as around the world” said Michael Heffernan, President of Collegium. “Completing this transaction with Lupin allows us to continue to focus our efforts and resources on the further development of our lead chronic pain product candidate, COL-003, that utilizes our DETERx™ tamper resistant extended release technology. In addition, we intend to continue to invest in building our Onset Therapeutics dermatology business”.
Ferghana Partners acted as a financial advisor to the Company for the transaction.
About COL-003
COL-003 is a tamper resistant formulation of extended release oxycodone that utilizes the Company’s patented DETERx™ delivery technology. The product is currently under clinical development pursuant to an active Investigational New Drug Application and has received Fast Track Designation from the FDA. COL-003 is being developed for the management of moderate to severe pain when a continuous, around-the-clock analgesic is needed for an extended period of time.
About Collegium Pharmaceutical
Collegium Pharmaceutical, Inc. is a specialty pharmaceutical company focused on the development of proprietary, late stage pharmaceutical products. These products target market opportunities through formulation based product improvements that are protected by intellectual property (IP). Collegium is focused on building a portfolio of pain products that incorporate its patent protected DETERx™ formulation platform that provides for sustained release and tamper resistance. The Company through its subsidiary, Onset Therapeutics (www.onsettx.com) develops and commercializes products for skin and skin related disorders using its novel DELEVO™ Foam Technology. For more information, visit the Company’s website at www.collegiumpharma.com.
About Lupin
Headquartered in Mumbai, Lupin Ltd. is an innovation led transnational pharmaceutical company producing a wide range of quality, affordable generic and branded formulations and API’s for the developed and developing markets of the world. The Company has secured a global leadership position in Anti-TB, Cephalosporins (anti-infectives) and Cardiovascular drugs (prils and statins) and has a notable presence in the areas of diabetology, NSAIDs and Asthma. The Company’s R & D endeavors have resulted in significant progress in its NCE program. The Company’s foray into Advanced Drug Delivery Systems has resulted in the development of platform technologies that are being used to develop value-added generic pharmaceuticals.
Currently positioned among the top five pharmaceutical companies of India, Lupin is committed to achieve sustainable earnings and growth for all of its stakeholders. For the financial year ended March 2009, the Company’s revenues and profit after tax were Rs. 27,730 million (USD$ 694 million) and Rs. 4,083 million (USD$ 102 million) respectively. For more information, please visit the Company’s web site at www.lupinworld.com.
Lupin Pharmaceuticals, Inc. is the wholly owned US subsidiary of Lupin Ltd. With sales and marketing headquarters in Baltimore, MD, Lupin Pharmaceuticals, Inc. is dedicated to delivering quality brands and high quality affordable generic medicines.
