Company news

Share this article:

Avanir Pharmaceuticals has completed the sale of its antipsychotic drug FazaClo to Azure Pharma for an upfront payment of $42 million plus an additional $1.9 million in working capital adjustments. Under the deal, Avanir could receive an additional $10 million in payments in 2009 and up to $2 million in royalties. Avanir said it is using $11 million of the payments to pay down some debt. Financing from this deal should allow the company to operate through the end of the next fiscal year, Avanir said.
 
Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Business Briefs

Email Newsletters

MM&M Future Leaders


Register now

Early bird $1,950 before 31 October 2014

*Group discounts available on request 

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Business Briefs

Novartis said to be stepping out of HCV

Novartis is said to have relinquished rights to an investigational hep. C treatment, signaling its exit from the therapeutic space, according to a former partner's announcement.

Monday Moves: September 15

Hires and promotions for manufacturers, regulatory and agencies

Kantar acquires Evidências, expands Brazilian presence

The company's acquisition signals the growing importance of understanding the Brazilian healthcare market and evidence-based healthcare management services.