TUESDAY, SEPTEMBER 27, 2016

Impax sells Daraprim rights to Turing Pharmaceuticals

Impax sells Daraprim® to Turing Pharmaceuticals AG | Courtesy of angelfire.com
According to a recent announcement, Turing Pharmaceuticals AG has purchased the United States rights of Impax Laboratories Inc.’s Daraprim brand for approximately $55 million.

Daraprim, also called pyrimethamine, is an antiparasitic that is designed to treat toxoplasmosis along with sulfonamide. Studies have suggested that it can used to treat certain cases of acute malaria. It may also be helpful to treat chemoprophylaxis, which is related to certain strains of malaria.

People who have hypersensitivity to pyrimethamine should not use Daraprim. It is also unsuitable for people who have megaloblastic anemia because of folate deficiency.

Impax originally acquired the brand along with Tower Holdings Inc. and Lineage Therapeutics Inc. Its purchase of Tower included the company’s operating subsidiaries Amedra Pharmaceuticals LLC and CorePharma LLC. This transaction was finished March 9.

"This transaction makes sense for both parties,” Fred Wilkinson, the president and chief executive officer of Impax, said. “Daraprim will enhance Turing's product portfolio and help them establish relationships with prescribers. Impax benefits by receiving value for a non-core asset and recovers almost 8 percent of the $700 million acquisition price for Tower. The proceeds provide us with additional financial resources to pursue strategic growth opportunities."

Organizations in this story

Impax 3735 Castor Ave Philadelphia, PA 19124

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