Mylan to Acquire US Rights to Arixtra from AspenBy
Mylan Inc. reports that its subsidiary Mylan Ireland Limited has entered into an agreement to acquire the US commercialization, marketing, and intellectual property rights relating to Arixtra (fondaparinux sodium) injection and the authorized generic of Arixtra from Aspen Global Incorporated. Arixtra is indicated for the prophylaxis of deep vein thrombosis, which may lead to pulmonary embolism in patients undergoing hip fracture surgery, including extended prophylaxis, hip-replacement surgery, knee-replacement surgery or abdominal surgery who are at risk for thromboembolic complications.
Mylan already is selling Arixtra in the US through an interim distribution arrangement with Aspen, and Apotex is currently selling the authorized generic of Arixtra, which will be transitioning to Mylan by the end of the year.
Mylan will pay Aspen $225 million upon completion of the transaction. An additional $75 million will be held in escrow and released upon satisfaction of certain conditions. Aspen will supply Arixtra and the AG of Arixtra to Mylan, subject to certain terms and conditions. The transaction is subject to regulatory clearances. All other terms of the agreement remain confidential.
Arixtra and the authorized generic of Arixtra had US sales of approximately $18.8 million and $95.3 million, respectively, for the 12 months ending June 30, 2014, according to IMS Health, and reported by Mylan.