Iroko Pharmaceuticals announces the acquisition of all non-US
commercial rights to Aggrastat(R) (tirofiban HCl) from Merck & Co.,
Inc.
Outside of the US market, Aggrastat(R) in combination with heparin
is indicated for patients with unstable angina or non-Q wave
myocardial infarction to prevent cardiac ischemic events, and is also
indicated for patients with coronary ischemic syndromes undergoing
coronary angioplasty or atherectomy to prevent cardiac ischemic
complications related to abrupt closure of the treated coronary
artery. Aggrastat(R) is indicated for the treatment of acute coronary
syndrome, including patients who are to be managed medically and those
undergoing percutaneous transluminal coronary angioplasty (PTCA).
Financial terms of the transaction were not disclosed.
"We are excited to acquire this important medicine from Merck,"
stated John Vavricka, President and Chief Executive Officer of Iroko
Pharmaceuticals. "This acquisition plays to our strengths in focused
sales and marketing efforts and building close working relationships
with key opinion leaders. We look forward to ensuring the best
positioning of Aggrastat(R) in the marketplace for the benefit of
patients."
"We are very pleased to conclude another transaction with Merck by
acquiring this patent-protected asset," stated Osagie Imasogie,
Iroko´s Chairman and Senior Managing Partner of Phoenix IP Ventures.
"Aggrastat(R) substantially builds on Iroko´s presence in the
cardiovascular space and leverages our existing worldwide capabilities
and infrastructure. This transaction is consistent with our strategy
of growing Iroko through targeted asset acquisitions. We are pleased
that, with the acquisition of Aggrastat(R), Iroko´s annual revenues
will achieve a major milestone by exceeding $100 Million Dollars on a
most recent year basis."
About Iroko Pharmaceuticals: Iroko is a pharmaceutical company
focused on acquiring, developing, and maximizing the potential of
currently marketed pharmaceutical products on a worldwide basis. Iroko
applies concentrated selling and marketing efforts and product life
cycle management strategies focused on developing new and relevant
formulations and indications that benefit patient health. For more
information, visit www.iroko.com.
About Phoenix IP Ventures: Phoenix IP Ventures is an Intellectual
Property Merchant Bank which works in partnership with life sciences
companies to maximize the potential value of intellectual property
based assets. Phoenix IPV works in collaboration with major players in
the financial community to scale its own proprietary investments in
transactions identified and managed by the Firm. For more information,
visit www.phoenixipv.com.
About Merck: Merck & Co., Inc. is a global research-driven
pharmaceutical company dedicated to putting patients first.
Established in 1891, Merck currently discovers, develops, manufactures
and markets vaccines and medicines to address unmet medical needs. The
company devotes extensive efforts to increase access to medicines
through far-reaching programs that not only donate Merck medicines but
help deliver them to the people who need them. Merck also publishes
unbiased health information as a not-for-profit service.
