News
American Pharmaceutical Partners Acquires Canadian Market Rights to Five Injectable Products From Eli Lilly Canada Inc.
Schaumburg, Ill. - American Pharmaceutical Partners, Inc. (Nasdaq: APPX), today announced that it has acquired from Eli Lilly Canada Inc. (a wholly-owned subsidiary of Eli Lilly and Company NYSE: LLY) Canadian market and trademark rights for four proprietary products, Tazidime(R) (ceftazidime), Kefurox(R) (cefuroxime), Kefzol(R) (cefazolin) and Dobutrex(R) (dobutamine).
APP also acquired Canadian market rights for injectable vancomycin in this transaction. APP's wholly owned Canadian subsidiary, Pharmaceutical Partners of Canada (PPC) will commence marketing these products immediately. As part of the transaction, APP also assumed certain hospital supply contracts for Tazidime(R) and injectable vancomycin. Terms were not disclosed.
Tazidime is a broad spectrum antibiotic with a Canadian indication for certain lower respiratory tract infections, skin and skin structure infections, urinary tract infections, bone infections, intra-abdominal infections (Peritonitis) and use in bacteremia/septicemia.
"We are always on the lookout for proprietary and other products that complement our portfolio or for which we can leverage our marketing and manufacturing strengths in the injectable marketplace both in the U.S. and Canada," said Patrick Soon-Shiong, M.D., chairman, president and chief executive officer of APP. "With the addition of the products acquired in this transaction, we now have a number of proprietary pharmaceuticals in Canada that will help us establish PPC as a significant player in that market."
PPC markets 30 injectable pharmaceuticals in Canada and is a profitable contributor to APP's business. Thus far in 2003, PPC has launched five products in Canada including: cefuroxime for injection, a generic version of GlaxoSmithKline PLC's Zinacef(R); ifosfamide for injection, a generic version of IFEX(R) marketed by Bristol-Myers Squibb Company; milrinone lactate injection, a generic version of Sanofi Synthelabo Inc.'s Primacor(R); calcitriol injection, a generic version of Abbott Laboratories, Inc.'s Calcijex(R) Injection; and tobramycin injection, a generic version of Eli Lilly Canada Inc.'s Nebcin(R).