Bourne Partners, Covis Pharma acquire U.S. rights for five drugs from Sanofi
Covis Pharma, a Switzerland-based specialty pharmaceutical company, has formed an agreement with Sanofi-Aventis and certain affiliates to acquire full commercial rights for Nilandron (nilutamide), Plaquenil (hydroxychloroquine), Rilutek (riluzole), Uroxatral (alfuzosin hydrochloride) and Kayexalate (sodium polystyrene sulfate) in the U.S.
The aggregate sales for these products in the U.S. in 2012 were $114.6 million. Sanofi will retain the existing rights for these products in countries outside the U.S. Terms of the agreement have not been disclosed.
"We are very pleased to announce the addition of these products to our existing portfolio," said Jack Davis, CEO of Covis Pharma. "Covis will continue to supply consistent, top quality, branded pharmaceuticals, ensuring that patients receive the therapeutic care they need."
Covis Pharma will promote these branded products through its U.S.-based distributor, Covis Pharmaceuticals. Covis Pharma also supplies authorized generic products to the U.S. market through a separate distributor, Rising Pharmaceuticals. Sanofi will manufacture and supply the products for Covis Pharma.
Bourne Partners acted as financial advisor to Covis Pharma on this transaction and is actively pursuing additional product and/or corporate acquisition opportunities for the company.