Actavis acquires brand name drug

Actavis has acquired Kadian from King Pharmaceuticals, it has emerged

Ending on June 30th 2010, the deal is based on quarterly sales-related milestones, with the fee believed to not be more than $127.5 million (88.4 million pounds).

Used to treat moderate to severe back pain, the product is currently sold in dosages ranging from 20 mg to 200 mg strength capsules.

The company says this allows physicians to provide patients with more treatment options.

Actavis’ US subsidiary’s chief executive officer Doug Boothe said the acquisition is “the latest step” in the company’s portfolio expansion strategy.

He added: “[It] is well aligned with our emphasis on bringing complex controlled-release products to the marketplace.

“Kadian has enjoyed significant market share and we are excited about its continued prospects as a drug that benefits many patients.”

Actavis has manufactured the drug since 2005, following the acquisition of Alpharma’s human generics business.

Last month, the company’s Medis division launched Fosinopril HCT in France.

Used to treat high blood pressure, the product is set to be marketed in the country by the company’s customers.

Based in Iceland, Actavis currently employs 11,000 people in approximately 40 countries around the world.

Established in 1956, the company has around 650 products on the market.