Sandoz obtains rights in US to commercialize KERYDINTM (tavaborole) topical solution, 5% from Anacor Pharmaceuticals, Inc.
Princeton, New Jersey, July 21, 2014 - Sandoz today announced an agreement with Anacor Pharmaceuticals, Inc. to obtain exclusive rights to commercialize Anacor’s drug KERYDINTM (tavaborole) topical solution, 5% in the US, through its branded dermatology business, PharmaDerm.
Two weeks ago Anacor announced that the U.S. Food and Drug Administration (FDA) approved the New Drug Application for KERYDINTM, the first oxaborole antifungal approved for the topical treatment of onychomycosis of the toenails due to Trichophyton rubrum or Trichophyton mentagrophytes, a fungal infection of the nail and nail bed that affects approximately 35 million people in the US, according to Podiatry Today.
“KERYDINTM is an important addition to PharmaDerm’s product portfolio. This agreement provides us with an excellent growth opportunity and reinforces our leadership in the topical dermatology specialty market,” said Peter Goldschmidt, President of Sandoz Inc. “Collaborations in key growth areas that offer potential for further synergies are an important part of our strategy of bringing high-quality, affordable medicines to patients.”
The agreement was effective July 18, 2014.
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Sandoz, the generic pharmaceuticals division of Novartis, is a global leader in the generic pharmaceutical sector. Sandoz employs over 26,500 employees and its products are available in more than 160 countries, offering a broad range of high-quality, affordable products that are no longer protected by patents. With USD 9.2 billion in sales in 2013, Sandoz has a portfolio of approximately 1,100 molecules, and holds the #1 position globally in biosimilars as well as in generic injectables, ophthalmics, dermatology and antibiotics, complemented by leading positions in the cardiovascular, metabolism, central nervous system, pain, gastrointestinal, respiratory, and hormonal therapeutic areas. Sandoz develops, produces, and markets these medicines, as well as active pharmaceutical and biotechnological substances. Nearly half of Sandoz's portfolio is in differentiated products, which are defined as products that are more difficult to scientifically develop and manufacture than standard generics. In addition to strong organic growth since consolidating its generics businesses under the Sandoz brand name in 2003, Sandoz has benefitted from strong growth of its acquisitions, which include Lek (Slovenia), Sabex (Canada), Hexal (Germany), Eon Labs (US), EBEWE Pharma (Austria), Oriel Therapeutics (US), and Fougera Pharmaceuticals (US).
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