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(NASDAQ: ANIP) closes the acquisition of a portfolio of Inderal LA assets from Cranford Pharmaceuticals, LLC, the company said.
The acquired portfolio include the NDA and trademark for Inderal LA as well as finished goods inventory.
Cranford Pharmaceuticals, LLC owns the NDA for Inderal LA 60mg, 80mg, 120mg and 160mg sustained release capsules as well as the authorised generic, propranolol ER capsules, both of which are indicated for hypertension, angina pectoris, migraine and hypertrophic subaortic stenosis.
According to IMS Health, Inderal LA and the authorised generic generated combined sales of USD 30m in calendar year 2015.
With the close of the transaction, ANI said it will immediately begin distributing Inderal LA as well as the authorized generic propranolol ER.
Inderal LA is indicated in the management of hypertension.
(NASDAQ: ANIP) has agreed to acquire a portfolio of Inderal LA assets from Cranford Pharmaceuticals, LLC, the company said.
The acquired portfolio will include the NDA and trademark for Inderal LA as well as finished goods inventory.
Following the close of the transaction ANI will immediately begin distributing Inderal LA as well as the authorized generic propranolol ER.
Propranolol HCl ER is the generic equivalent of Wyeth Pharmaceuticals' Inderal LA, which is used to treat hypertension, angina pectoris resulting from coronary atherosclerosis, migraine and hypertrophic subaortic stenosis.
Wyeth officials, meanwhile, recently stated that they were surprised to find that the company is about to face generics competition to Inderal LA, a heart drug that generates $216 million in annual sales.