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Article: Connetics to Acquire U.S. Soriatane (Acitretin) Product Rights From Roche; Oral Psoriasis Product Posted 2003 U.S. Net Revenues of $41 Million.
- Article from:
- PR Newswire
- Article date:
- February 9, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Connetics Corporation announced today that it will acquire exclusive U.S. rights to Roche's Soriatane(R)-brand (acitretin), an approved oral therapy for the treatment of severe psoriasis in adults. The U.S. net sales of Soriatane were approximately $41 million in 2003.
Under the terms of the agreement, Connetics will pay Roche a total of $123 million to acquire the Soriatane product, payable in cash at the closing. The purchase will be financed with existing cash resources and a $30 million bank note provided by Goldman, Sachs & Co., to the extent necessary. This transaction with Roche is expected to close by the end of the first quarter of 2004 and is subject ...