Midatech Pharma, the international specialty pharmaceutical company focused on developing and commercialising products in oncology and other therapeutic areas, has completed its previously announced acquisition of Zuplenz (ondansetron), a marketed oncology product from Galena Biopharma, Inc.
Annoncing the news on Thursday, Midatech noted that Zuplenz is marketed in the US for the prevention of chemotherapy-induced nausea and vomiting (CINV), radiotherapy-induced nausea and vomiting (RINV), and post-operative nausea and vomiting (PONV) and has a target market of $4.6bn by 2018.
As announced on December 18, 2015, Midatech expects the acquisition of Zuplenz will leverage its commercial infrastructure in the US, following the recent acquisition of DARA BioSciences (now known as Midatech Pharma US Inc.).
Commenting on the announcement, Dr. Jim Phillips, CEO of Midatech Pharma, said: “We are pleased to complete the acquisition of Zuplenz, which adds to our rapidly growing portfolio of marketed oncology products. We believe that our recent product acquisitions will help drive the Group towards sustainable profitability.”