Cangene Acquires U.S. Commercialization Rights for HepaGam B from Apotex
Tue, 10/20/2009 - 5:15am
WINNIPEG — Cangene Corp. has signed a deal to acquire the U.S. commercialization rights for HepaGam B, a hepatitis B immune globulin, from Apotex. Cangene will pay Apotex a US$7-million upfront fee, as well as royalties on net U.S. sales from Nov. 1, 2009 until June 2016. Cangene manufactures HepaGam B in its Winnipeg plant. "We are focused on building a broader portfolio of hospital-based specialty products and will continue to seek further acquisition opportunities," Cangene president and chief executive John Langstaff said in a statement. Apotex holds a majority stake in Cangene, which employs 700 workers in eight locations across North America including two manufacturing plants in Winnipeg, Manitoba and one in Baltimore.