Apotex sells product assets to AA Pharma

Apotex has sold a number of products from its pharmaceuticals portfolio to fellow healthcare firm AA Pharma.

More than 40 products have been transferred from Apotex to AA Pharma as of August 3rd 2010, with the new owner of the brands commencing sales of the treatments immediately.

The deal will see Apotex continue to take responsibility for production of the treatments, with the Apotex label to be transitioned to the new AA Pharma brand name gradually.

No financial details of the deal, which pertains to products from a number of different therapeutic categories, were disclosed by the companies.

Jack Kay, president and chief operating officer of Apotex, said: “We are constantly reviewing our portfolio of 300 products and it made business sense that another organisation should sell these specific pharmaceutical products.”

Earlier this year, Apotex announced the Canadian launch of Apo-Atorvastatin, a generic version of the bestselling Pfizer cholesterol treatment Lipitor.