Eumedica purchases drug rights from UCB

Eumedica has purchased global rights to Somatostatine-UCB from UCB, it has been revealed.

The anti-haemorrhagic treatment is used as a therapy for acute upper gastrointestinal bleeding from gastric and duodenal ulcers.

The transaction will see UCB receiving a cash consideration of an industry average sales multiple for the establishing of any products.

Used for over 20 years in 25 markets around the world, the product recorded net sales of 11.4 million euros (10.2 million pounds) for UCB in 2008.

Last month, UCB revealed Wilex was to acquire its preclinical oncology range as part of a strategic partnership.

The portfolio consists of five programmes, of which two are small-molecule and three are antibody-related.

Commenting at the time, Dr Melanie Lee, executive vice-president of UCB, said: “Wilex is the ideal strategic partner for developing our promising preclinical oncology portfolio.”

She added UCB will benefit from its partner’s oncology expertise, focus and know-how.