Wednesday, Amneal Pharmaceuticals Inc. (AMRX) announced that it is acquiring privately-held Saol Therapeutics' Baclofen franchise, a move that will expand its neurology presence into spasticity.
Saol Therapeutics' Baclofen franchise includes two approved products Lioresal and LYVISPAH, as well as a pipeline product under development.
Lioresal is a marketed intrathecal baclofen product delivered through an implantable intrathecal pump for use in the management of severe spasticity of cerebral or spinal origin for the institutional market.
LYVISPAH, a baclofen oral granule product, approved for the treatment of spasticity, is expected to be launched this year.
Lioresal and LYVISPAH are anticipated to rake in $40 to $50 million in combined annual net revenues by 2025.
As per the deal terms, Amneal will pay around $83.5 million of cash, and certain royalties based on annual net sales for certain acquired products of Saol.
The acquisition is anticipated to be accretive to Amneal's adjusted EBITDA and adjusted earnings per share for the current fiscal.
"This acquisition is highly aligned with Amneal's long-term growth strategy adding to our specialty and biosimilars businesses. In specialty, we see Lyvispahtm fitting well with our neurology portfolio and pipeline. In addition, Lioresal is a durable product with a long-established presence in the institutional market that we look to leverage as we prepare to commercialize our biosimilars in 2022 and beyond," commented Chirag and Chintu Patel, Co-Chief Executive Officers.
The transaction is slated to close in the first quarter of 2022.
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