MAPLE GROVE, Minn., Oct. 18, 2016 /PRNewswire/ -- Upsher-Smith Laboratories, Inc. (Upsher-Smith) today announced that it has acquired more than 20 US generic products from Sandoz, Inc. for an upfront payment in cash and additional payments contingent upon product sales.
The acquisition of products that are currently FDA approved but not marketed by Sandoz includes 19 solid-oral dosage products and one nasal product. The total annual product sales is around $400 million (IMS Health, 12 months ending in July 2016). Financial terms related to the deal have not been disclosed.
This transaction is part of Upsher-Smith's company-wide effort to grow its generics portfolio and to expand its strategic relationships within the pharmaceutical industry.
"Upsher-Smith is pleased to build upon our long-standing strategic relationship with an industry leader, Sandoz," said Rusty Field, President, Upsher-Smith. "This new agreement is another example of our focus on and ability to execute significant acquisitions that leverage our internal capabilities and expand our portfolio of quality, high-value generic products for patients."
Upsher-Smith Laboratories, Inc., founded in 1919, is a growing, fully integrated pharmaceutical company dedicated to its mission of delivering high-value, high-quality therapies and solutions which measurably improve individuals' lives. As a family-owned pharmaceutical company, we are able to adapt and thrive in a dynamic healthcare environment. Our world is constantly evolving, and we are continually adapting to the ever-changing needs of patients, physicians, pharmacists, and healthcare organizations. Where there is a need, we will work to deliver solutions that simplify access to treatment, deliver better health outcomes, and enhance life. For more information, visit www.upsher-smith.com.
SOURCE Upsher-Smith Laboratories, Inc.