Pharmaceutical company Mayne Pharma
(ASX:MYX) has added a new acquisition to its US generic product portfolio.
The company has acquired from Par Pharmaceutical Inc the rights to a fentanyl transdermal delivery system – that is, an adhesive patch applied to skin and provides pain relief.
The company says this product is a generic equivalent to Duragesic.
Under this deal, Mayne Pharma will assume Par’s manufacturing and supply agreement with Corium (the biopharmaceutical company which developed this product). Mayne Pharma will also acquire select inventory and the rights to market the product in the US.
Mayne Pharma says the US transdermal patch market is valued at over US$3.3 billion. The company also cited IMS Health statistics to say that sales for the fentanyl patch were around US$560 million for the year ending 31 December 2016.
This morning, shares in Mayne Pharma dropped 0.37% to $1.33.
