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

The Women's Health landscape is ripe with opportunity for pharma marketers. This seven-page eBook offers product managers a guide to capitalizing on the trends, growth areas and unmet needs. Includes alternative channels to engage OB/GYNs and oncologists, and plenty of tips. Click here to access it.

Email Newsletters