Woodcliff Lake-based Eagle Pharmaceuticals on Thursday said it completed the previously announced acquisition of Britain-based Acacia Pharma in a deal that values the firm at around $102 million.
Eagle will gain possession of two marketed products, Byfavo, a sedative medicine for adults undergoing procedures lasting 30 minutes or less; and Barhemsys, approved in U.S. for rescue treatment of postoperative nausea and vomiting despite prophylaxis and also approved for preventing/treating PONV in those who have not received prophylaxis.
“The closing of this transaction is a great achievement for Eagle, both strategically and financially. The addition of the two products expands our presence in the acute care space, and we believe that our highly capable hospital-based salesforce will have great success commercializing these assets. We believe Barhemsys and Byfavo represent two compelling opportunities, as both address significant unmet clinical needs,” Scott Tarriff, CEO and president of Eagle Pharmaceuticals, stated.
“With the recent launches of vasopressin and Pemfexytm and the completion of this transaction, Eagle has gone from three commercial products to eight within a year, with a ninth on the horizon if the new drug application submitted for landiolol last month is approved. The acquisition of Acacia Pharma should not only help improve the care of patients undergoing medical treatments, but also solidify our leadership position in the hospital and oncology space and bring long-term value to our shareholders.”
