Onxeo, a developer of orphan oncology drugs, has announced Cipher Pharmaceuticals' acquisition of Innocutis Holdings, the licensee of Sitavig in the USA.
Cipher Pharmaceuticals is a specialty pharmaceutical dermatology company which says it aims to become "the most customer-centric dermatology company in North America".
The acquisition provides Cipher with a commercial infrastructure and sales team for the USA. Cipher says it will drive Sitavig as a product, with the aim of making it a breakthrough treatment for herpes labialis.
"We are positive that this acquisition will further strengthen Sitavig's position. Supported by already trained teams and benefitting from increased means, this transaction will leverage Sitavig's commercial potential, clearly established as the leading product of Cipher's dermatology portfolio in the USA", said Judith Greciet, CEO of Onxeo.
"This acquisition represents an important step towards our goal of creating a leading North American dermatology business. We see excellent opportunity to drive increased sales and profitability by growing Innocutis' current branded prescription drugs, led by Sitavig", said Shawn O'Brien, President and CEO of Cipher. "We are delighted to pursue the partnership with Onxeo's team which has shown constant support and high efficiency since early 2014".