ACETO Corporation, a global leader in the marketing, sale and distribution of products for human health, pharmaceutical ingredients and performance chemicals, announced that Rising Pharmaceuticals, Inc., its generic finished dosage form subsidiary, has completed the purchase of three ANDAs for the products ciprofloxacin ophthalmic solution 3 per cent, levofloxacin ophthalmic solution 0.5 per cent, and diclofenac sodium ophthalmic solution 0.1 per cent from Nexus Pharmaceuticals.
Rising began marketing the products under a license from Nexus in June 2008 and holds robust shares in each market. This transaction enables Rising to gain full ownership of the ANDAs as well as increased margins.
Ciprofloxacin ophthalmic solution, 3 per cent (generic version of Alcon's Ciloxan) is an antibiotic with a $13.2 million market. Levofloxacin ophthalmic solution, 0.5 per cent (generic version of Santen's Quixin) is also an antibiotic with a $1.0 million market, and diclofenac sodium ophthalmic solution 0.1 per cent (generic version of Novartis's Voltaren) is an NSAID (non-steroidal anti inflammatory drug) with a $2.4 million market.
Sal Guccione, Aceto CEO said, "This acquisition continues Rising's growing presence in the generic ophthalmic space and also enables Rising to capture more value from these important products."