Covis Pharma Sarl, a Switzerland-based specialty pharmaceutical company owned by affiliates of Cerberus Capital Management, L.P., today announced an agreement with GlaxoSmithKline to acquire full commercial rights for Fortaz (ceftazidime), Zinacef (cefuroxime), Lanoxin (digoxin), Parnate (tranylcypromine sulfate), and Zantac Injection (ranitidine hydrochloride) in the United States and Puerto Rico.
GlaxoSmithKline will retain the existing rights for these products in countries outside the United States. Terms of the agreement have not been disclosed.
"We are very pleased to announce the acquisition of this portfolio of drugs as we establish Covis as a leading specialty pharmaceutical company," said Jack Davis, CEO of Covis Pharma. "Our world-class management team looks forward to building out our platform beyond the current focus on the acute care, cardiovascular and CNS markets, into new and adjacent therapeutic areas." "The Covis Pharma management team has the deep relationships and understanding of the healthcare markets," said Bill Collins, CEO of Covis Pharmaceuticals Inc (USA). "We will supply consistent, top quality, branded pharmaceuticals, ensuring that patients receive the therapeutic care they need." Covis Pharmaceuticals Inc (USA) is a Raleigh, North Carolina-based affiliate that will provide U.S. sales and distribution support to Covis Pharma.
GSK will manufacture and supply Fortaz Injection, Zinacef Injection, Parnate, and Zantac Injection to Covis. Lanoxin Tablets and Injection, Fortaz Frozen, Zinacef Frozen and Zantac Injection Premixed will continue to be manufactured and supplied by current third-party suppliers.