Barr Pharmaceuticals, Inc. and King Pharmaceuticals, Inc. have completed an agreement under which Barr Pharmaceuticals' subsidiary, Duramed Pharmaceuticals, Inc., has acquired from King the exclusive rights in the United States for Prefest (estradiol/norgestimate) Tablets.
Under the terms of the agreement, Duramed acquired from King the exclusive rights to manufacture and market Prefest in the United States and King will assign to Duramed the regulatory approval in the United States. The acquisition price for the product is approximately $15 million, the Barr Lab's release said here.
"This agreement allows Duramed to add another important female healthcare product to its portfolio of proprietary products that currently includes Seasonale extended-cycle oral contraceptive and Cenestin (Synthetic Conjugated Estrogens, A)," said Bruce L. Downey, Barr's chairman and CEO.
Brian Markison, King's president and CEO, commented, "This transaction is part of our previously announced strategy to divest many, if not all, of our women's health products. Such divestitures should enable our company to focus more intently on in-licensing, development, acquisition, and promotion of branded prescription pharmaceutical products in other key therapeutic areas that we believe are more important to the future success and growth of our company."
Prefest is indicated in women with an intact uterus for the treatment of moderate to severe vasomotor symptoms associated with the menopause, treatment of vulvar and vaginal atrophy and prevention of postmenopausal osteoporosis.
Barr and King are parties to pending patent litigation regarding the patents related to Prefest. Following Barr's acquisition of Prefest from King, the Prefest patent litigation will be voluntarily dismissed, the release added.