Sunovion Pharmaceuticals has announced that it will sell “certain rights” to its Xopenex levalbuterol inhalation solution to Akorn for $45 million. Rights to the Xopenex HFA MDI are being retained by Sunovion. Akorn says that it will begin shipping the inhalation solution as soon as the deal is closed.
Akorn CEO Raj Rai said, “We are excited to announce this transaction which will expand Akorn’s offering of inhaled therapeutics. The addition of Xopenex IS strengthens and diversifies Akorn’s portfolio of products with niche dosage forms.” Akorn already sells albuterol sulfate inhalation solution.
Sunovion Executive VP Corporate Strategy Hiroyuki Baba commented, “We are pleased to conduct this transaction with Akorn to allow Xopenex IS to continue to be available to patients. Our plan is to recognize value gained from the sale of this product to invest back in the business, allowing us to continue to provide effective treatments for patients.”
Read the Sunovion press release.
