LAKE FOREST, Ill. — Akorn Inc. has signed an agreement to acquire the Xopenex Inhalation Solution from Sunovion Pharmaceuticals Inc.
In announcing the $45 million deal this week, Akorn said it plans to ship product immediately upon closing the transaction, and Sunovion will work with Akorn to ensure uninterrupted access to patients.
"We are excited to announce this transaction which will expand Akorn’s offering of inhaled therapeutics," stated Akorn chief executive officer Raj Rai. "The addition of Xopenex IS further strengthens and diversifies Akorn’s portfolio of products with niche dosage forms."
The U.S. market for both the generic and branded versions of Xopenex Inhalation Solution (levalbuterol HCI), a short-acting bronchodilator, totaled about $280 million for the 12 months ended in August, according to IMS Health data cited by Akorn.
"We are pleased to conduct this transaction with Akorn to allow Xopenex IS to continue to be available to patients," commented Hiroyuki Baba, executive vice president of corporate strategy for Sunovion. "Our plan is to recognize value gained from the sale of this product to invest back in the business, allowing us to continue to provide effective treatments for patients."
Xopenex Inhalation Solution is indicated for the treatment or prevention of bronchospasm in adults, adolescents and children ages 6 and older with reversible obstructive airway disease.
Sunovion plans to continue selling Xopenex HFA Inhalation Aerosol (levalbuterol tartrate), another formulation of the product, in all dosage strengths and formulations.
