Pfizer Completes Acquisition of InnoPharma
Pfizer completed its acquisition of InnoPharma, Inc., a privately held pharmaceutical development company specializing in injectables. Pfizer had agreed to acquired InnoPharma in July 2014 for an upfront cash payment of $225 million, with up to $135 million of contingent milestone payments.
InnoPharma's portfolio includes 10 generic products approved by the US Food and Drug Administration (FDA). The company also has a pipeline of 19 products filed with the FDA and more than 30 injectable and ophthalmic products under development. The company develops novel formulations of existing drugs, including hard-to-make products, such as those that require complex manufacturing capabilities or have bioequivalency challenges, in areas such as cancer and central nervous disorders.
The move increases Pfizer’s position in its sterile injectables portfolio; the acquisition increases Pfizer’s sterile injectables portfolio to 73 products. Pfizer Injectables is part of Pfizer’s Global Established Pharma business and includes the manufacturing, production, and sale of human pharmaceutical and surgiceutical products. Its sterile injectable portfolio prior to the Innopharma acquisition consists of 44 products with over 190 presentations in the US. Established in 2005, InnoPharma has a research and development facility in Piscataway, New Jersey. The company has developed capabilities in complex injectable delivery forms, including pens and depot injectibles, and is working to leverage this expertise to expand into new dosage forms, including oral suspensions and nasals.