Ovation Pharmaceuticals acquires CNS drug from Lundbeck
US-based Ovation Pharmaceuticals has expanded its product portfolio with the acquisition of the global rights to Buronil (melperone hydrochloride), a central nervous system drug, from Danish pharmaceutical company H. Lundbeck. Financial terms were not disclosed.
US-based Ovation Pharmaceuticals has expanded its product portfolio with the acquisition of the global rights to Buronil (melperone hydrochloride), a central nervous system drug, from Danish pharmaceutical company H. Lundbeck. Financial terms were not disclosed.
This is Ovation's fifth transaction with a major pharmaceutical company in the past 20 months. Previously, it acquired five products in two separate transactions with Abbott Laboratories, three products from Sanofi-Synthelabo and two products from Aventis.
Ovation assumes all of Lundbeck's responsibilities for Buronil in Europe, where Lundbeck currently markets the drug for the treatment of schizophrenia and other CNS conditions in 12 countries. In addition, Ovation will assess the opportunity to seek approval for Buronil in other European countries as well as in the US.
'This transaction will now expand our operations from North America into Europe and makes us stronger than ever in the critically important CNS therapeutic area,' said Ovation president Jeffrey S. Aronin.