MCP and SpePharm complete purchase of Dantrium
MCP Pharmaceuticals and SpePharm complete purchase of Dantrium®
Parsippany, NJ and Amsterdam, The Netherlands, August 20, 2008 – MCP Pharmaceuticals, LLC and SpePharm Holding, BV announced today the successful closing of an asset purchase agreement, pursuant to which MCP and SpePharm acquired global rights to Procter and Gamble’s Dantrium® product (dantrolene sodium).
In its intravenous form, Dantrium is used to treat malignant hyperthermia (a life-threatening reaction to certain gaseous anesthetics) and in its oral form, the control of clinical spasticity resulting from upper motor neuron disorders (e.g., spinal cord injury, stroke, cerebral palsy, or multiple sclerosis).
MCP Pharmaceuticals LLC acquired the rights to Dantrium for the US and Canada, including supply rights in Australia, New Zealand, Israel and Chile while SpePharm Holding, BV acquired the rights in the rest of the world.
Stuart Hinchen, President of MCP commented:
“We are delighted to acquire the rights to Dantrium. This product will fit well into our current portfolio of marketed products which already includes exports to Canada and Australia.”
Jean-Francois Labbé, Chief Executive Officer of SpePharm, said:
“We have been pleased to partner with MCP in this acquisition and secure Procter & Gamble’s rights to Dantrium in the rest of the world (excluding the MCP territories). In Europe Dantrium will receive support from SpePharm’s growing hospital sales and marketing infrastructure.”
About MCP Pharmaceuticals, LLC
MCP, headquartered in New Jersey, is a specialty pharmaceutical company which manufactures and sells pharmaceutical products, primarily aseptic injectable products into the hospital segment, and provides contract manufacturing of sterile products for innovator pharmaceutical companies. MCP is a private company wholly owned by MCP Holdings, LLC whose equity owners are Morgan Stanley Principal Investments, Peter Jenkins and Stuart Hinchen.
About SpePharm Holding, BV
SpePharm Holding, B.V. is a Dutch company with its registered office in Amsterdam, and its European operations based in Paris, France. SpePharm is an emerging pan-European specialty pharmaceutical company focused on acquiring, registering and marketing high medical value specialty medicines essentially for the hospital market. Particular areas of therapeutic interest are oncology, critical and supportive care. SpePharm was founded in September 2006 by Jean-François Labbé together with leading life science investment firms TVM Capital and Signet Healthcare Partners (part of the Sanders Morris Harris Group).
Paul Capital Healthcare, one of the largest dedicated healthcare investors globally, made an equity investment in SpePharm in August 2008, and provided additional non-dilutive financing for SpePharm to acquire the rights to Dantrium. Jean-François Labbé is a former top executive of Hoechst Marion Roussel and Parke Davis with over 30 years of experience in international pharmaceutical management. To date SpePharm has an established commercial presence in the UK, Germany, Italy, Benelux and the Nordic area where it currently launches its first product, Loramyc, for the treatment of oropharyngeal candidiasis in immune-compromised patients.
For more information about SpePharm, please visit the web site at www.spepharm.com
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