California-based SciClone Pharmaceuticals has acquired NovaMed Pharmaceuticals, a China-based specialty pharmaceutical company, according to Fierce Biotech. The acquisition brings more sales and marketing as well as regulatory and business capabilities. The pharmaceutical assets in the regulatory approval stage add to SciClone’s growing and profitable China-focused specialty pharmaceutical business.
NovaMed is privately-held and backed by foreign venture capital; it has a portfolio of 18 drug products spanning four major therapeutic areas including oncology, cardiovascular disease, central nervous system disorders and urology/infection.
"NovaMed represents an excellent strategic acquisition as it allows SciClone, in a single transaction, to dramatically expand our presence in China in five important areas: pharmaceutical products, targeted therapeutic indications, management depth, sales force size and revenue," stated Friedhelm Blobel, Ph.D., president and CEO of SciClone.