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Actavis acquires painkiller rights
30 Dec 2008
Regulatory Affairs
Icelandic firm Actavis has acquired a painkiller from King Pharmaceuticals for around $127.5 million (£88.6 million), it was announced today.
The rights to Kadian will transfer to Actavis, which intends to market the drug in the US only.
Doug Boothe, chief executive officer of the firm, said: "The acquisition of Kadian is the latest step in Actavis' strategy to expand our specialty drug portfolio and is well aligned with our emphasis on bringing complex controlled-release products to the marketplace."
The medication, which is used to treat moderate to severe chronic pain, is currently available in a range of dosage strength capsules.
Actavis originally developed the drug at its Elizabeth NJ facility and manufactured it since 2005 when it took over Alpharma's human generics enterprise.
The firm recently received US Food and Drug Administration approval to market the 150mg version of Wellbutrin, a treatment for major depressive disorders.
Mr Boothe said the drug has significant value for patients and consumers.
