Recordati has concluded the acquisition of ten rare disease products, marketed mainly in the USA, from Denmark's Lundbeck.
The Italian drugmaker is paying $100 million for the treatments, the main one being the injectable Panhematin (haemin) for recurrent attacks of acute intermittent porphyria. The other drugs covered in the deal include NeoProfen (ibuprofen lysine) and Indocin IV (indomethacin), indicated to close a clinically significant patent ductus arteriosus in premature infants, and Cosmegen (dactinomycin) used mainly in the treatment of three rare cancers.
Recordati noted that revenues in 2013 for the acquired portfolio are expected to be in the region of $40 million. The company also intends to hire several of the Lundbeck employees who have been part of marketing the products involved in the transaction.
When the deal was originally announced at the end of last year, Lundbeck chief executive Ulf Wiinberg said the divestiture of these non-core drugs "allows us to sharpen our focus on advancing therapeutic approaches for people with psychiatric and neurological disorders - disease categories where we've recently launched three new products in the USA and are poised to launch several more within the next year".