Norgine sells rights for three drugs to Meda

Norgine has announced the sale of global rights for three of its pharmaceutical agents to the Swedish firm Meda.

The company has transferred its worldwide commercial interests in Spasmonal, Pyralvex and Waxsol, subject to certain existing third party contracts, as it looks to refine the focus of its business operations.

Waxsol is sold as a treatment for the dissolution and removal of earwax, while Pyralvex allows patients to experience relief from pain caused by denture irritation and mouth ulcers.

Meanwhile, Spasmonal is specified as a therapy for smooth muscle spasms resulting from primary dysmenorrhoea, irritable bowel syndrome and painful diverticular disease of the colon.

Norgine's chief executive officer Peter Stein said: "Norgine's focus is on developing its leading position in the European specialty pharmaceutical market and we are happy that Meda can now take these products forward."

Earlier this month, Norgine announced that it has purchased a stake in fellow pharmaceutical company ProStrakan, representing 12.6 percent of its issued share capital.