Avanir buys in CNS marketing experience with purchase of Alamo
Avanir Pharmaceuticals of San Diego, USA, has entered into an agreement with the shareholders of privately-owned Alamo Pharmaceuticals, to purchase the company. The deal is subject to the assumption of debt by the principal shareholder and certain other provisions.
Avanir Pharmaceuticals of San Diego, USA, has entered into an agreement with the shareholders of privately-owned Alamo Pharmaceuticals, to purchase the company. The deal is subject to the assumption of debt by the principal shareholder and certain other provisions.
Headquartered in California and with operations in New Jersey, Alamo is a specialty pharmaceutical company with a sales force of around 50 currently marketing FazaClo (clozapine, USP), the only orally-disintegrating formulation of clozapine for the management of severely ill schizophrenic patients who fail to respond adequately to standard schizophrenic drug treatments.
"FazaClo is an excellent strategic fit for Avanir and acquiring Alamo is an important step forward as we move towards becoming an integrated pharmaceutical company," said Eric Brandt, president and ceo of Avanir. "With this acquisition, we significantly enhance our portfolio by adding a marketed CNS product".
Alamo's organisation will also augment Avanir's capabilities by adding an experienced sales force calling on the physicians that Avanir would need to target for its new durg Neurodex, currently under priority review at the US Food and Drug Administration for the treatment of Involuntary Emotional Expression Disorder.
Avanir will pay around US$29m up front for Alamo and, if certain sales milestones are achieved, it will pay up to an additional $40m.