Sciele Pharma, Inc.:
- Provides Sciele with two mid-stage development products
- Access to a large library of compounds with potential indications in a number of therapeutic areas, including dermatology and pain management
Sciele Pharma, Inc. (Head Office: Atlanta, Georgia, USA; President and CEO: Patrick P. Fourteau; hereafter “Sciele”), a U.S.-based group company of Shionogi & Co., Ltd. (Head Office: Osaka; President: Isao Teshirogi; hereafter “Shionogi”) and Addrenex Pharmaceuticals, Inc., (Head Office: Durham, North Carolina, USA; CEO: Moise A Khayrallah; hereafter “Addrenex”), a privately-held U.S. pharmaceutical company specializing in developing drugs that regulate the adrenergic system, today announced that Sciele has agreed to acquire Addrenex. The acquisition is in the form of cash, payable at closing. The total value of the deal is approximately $29 million to acquire the outstanding shares of Addrenex, excluding those previously owned by Sciele.
Sciele previously licensed three products from Addrenex – Clonicel for attention deficit hyperactivity disorder (ADHD), and Jenloga XR (once-daily clonidine) for hypertension. The New Drug Application (NDA) for Clonicel was filed with the U.S. Food and Drug Administration (FDA) in October 2009. In addition, Sciele licensed rights to ADX-415 for the treatment of vasomotor systems and hypertension.
The acquisition of Addrenex will provide Sciele with two additional mid-stage development products and access to a large library of compounds in numerous therapeutic areas, including pain management, cardiovascular, and dermatology.