Amdipharm Mercury buys ophthalmic drug Fucithalmic from Leo Pharma

Amdipharm Mercury has announced the acquisition of global rights to Leo Pharma's successful ophthalmic medicine product Fucithalmic.

The drug, which has played an important role in fuelling the growth of Leo Pharma's business, is being divested to Amdipharm Mercury in a deal that will see it continue to be produced at Leo Pharma's Dublin manufacturing facility.

Leo Pharma is selling off its rights to Fucithalmic as the company seeks to refocus its corporate strategy, with the transaction expected to be completed on April 15th 2013.

John Beighton, chief executive officer of Amdipharm Mercury, said: "We have agreed to acquire Fucithalmic as an important building block for our future as an expanding global business. Fucithalmic is a well-established global product with significant growth potential."

Amdipharm Mercury was created last October when Amdipharm was purchased by the European private equity firm Cinven and combined with its existing subsidiary Mercury Pharma.

Its pro forma revenue total comes to around 250 million pounds, generated by product sales in 112 countries.