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Almirall, the global pharmaceutical company based in Barcelona, announces the acquisition of the rights to two Dermatology products, Veltin® and Altabax®, from Stiefel, a GSK company in exchange for distribution rights to Toctino® and an undisclosed cash payment.
In June 2010, Almirall and Basilea Pharmaceutica Ltd (Basilea) signed a distribution agreement for Toctino®, granting Almirall commercialisation rights in selected European markets and Mexico. Stiefel acquired worldwide rights to Toctino® in June 2012 from Basilea, and has now consolidated rights to Toctino® in Europe. Altabax® is a patent protected and novel topical treatment for Impetigo, a highly contagious and the most common bacteria infection in children.
Veltin® is a prescription antibiotic indicated for the topical treatment of acne, the largest Dermatology indication in the US with a total market size of approximately $3 billion.
Both Veltin® and Altabax® will be commercialised through Almirall’s US affiliate, Aqua Pharmaceuticals. This strategic acquisition reinforces Almirall’s Dermatology franchise in the U.S. and the international expansion of the group.
Eduardo Sanchiz, Almirall Chief Executive Officer, stated: “These products have a great potential for growth in sizeable and growing markets.
Considering the significant expertise of Aqua Pharmaceuticals in the Dermatology field, we are convinced they will be in a good position to maximize the potential of Veltin® and Altabax®. Both medicines are a perfect fit with our current portfolio, are aligned with our global strategy and strengthen our position in the US, which is the world’s largest Dermatology market”.