King Pharmaceuticals Inc. has acquired from Allerex Laboratory Ltd. the exclusive rights to market and sell EpiPen (epinephrine injection) in Canada. EpiPen is an auto-injector that administers epinephrine, the definitive emergency treatment for severe anaphylaxis.
"Thousands of adults and children benefit from EpiPen, the number one prescribed self-administered treatment for life-threatening anaphylaxis," said Steve Andrzejewski, chief commercial officer of King Pharmaceuticals.
Anaphylaxis is a severe allergic reaction that some individuals experience in response to certain foods, including peanuts, medications, insect venom or latex. Anaphylaxis can be fatal within minutes if untreated. EpiPen when administered at the first sign of anaphylaxis can provide individuals the time necessary to obtain more definitive emergency treatment.
King will pay Allerex $25 million plus an earn-out based on sales of EpiPen in Canada. The worldwide rights to the distribution of EpiPen are licensed exclusively to Dey L.P. of Napa, California. Allerex serves as Dey's exclusive EpiPen sub-distributor in Canada.
King is the leading manufacturer of auto-injectors for the self- administration of injectable drugs, including EpiPen. Approximately 2% of the population in Canada is estimated to have allergic sensitivities placing them at risk for anaphylaxis.
EpiPen is an auto-injector that administers epinephrine-and epinephrine is the definitive emergency treatment for severe allergic reactions.