BioCentury
ARTICLE | Company News

Kyowa's ProStrakan subsidiary to acquire Archimedes

July 12, 2014 12:28 AM UTC

The ProStrakan Group plc subsidiary of Kyowa Hakko Kirin Co. Ltd. (Tokyo:4151) will acquire Archimedes Pharma Ltd. (Reading, U.K.) from Novo A/S for L230 million ($394.4 million) in cash. Archimedes has technologies for nasal and oral drug delivery and markets products in the EU for pain, oncology and critical care, including pain product PecFent fentanyl citrate nasal spray. The specialty pharma recorded 2013 revenues of L41 million ($67.8 million).

ProStrakan markets products for oncology and oncology supportive care, including Abstral fentanyl, a sublingual mucoadhesive fentanyl. The company -- which recorded 2013 revenues of L155 million ($256.1 million) -- said the deal will grow its businesses in the U.K., France, Germany and Spain, where Archimedes has "sales and marketing infrastructure which will complement ProStrakan's current operations." ...