Graceway Pharmaceuticals, which manufactures the MaxAir Autohaler pirbuterol acetate MDI, one of the last remaining CFC-propelled metered dose inhalers, has agreed to sell all of its assest to Galderma, a ” company focused exclusively on meeting the needs of dermatology patients and physicians.” The MaxAir inhaler is scheduled for phase out two years from now, with a last sale date of December 31, 2013. The product is the only pirbuterol MDI available.
The sale, which includes inventory and intellectual property rights, will require authorization from US and Canadian bankruptcy courts, and the company says that, “Other parties will have an opportunity to submit higher and better offers to purchase the Company’s assets under this Court-supervised process.” Nevertheless, Graceway expects the completion of the sale by the end of January 2012 “with minimal disruption to the business.”
Read the Graceway press release.
