Clinigen buys US cancer drug as profits double

Clinigen, the Burton on Trent pharmaceutical and services company, has bought Totect® (dexrazoxane) from Biocodex USA, a product that is patent protected in US, Canada and Mexico.

Totect® is an emergency medicine used to reverse the toxic effects of anthracycline anti-cancer treatment.

The acquisition, together with the Group’s acquisition of Savene® in 2014, gives Clinigen a complete global footprint in the sector.

Totect® was bought for an upfront payment followed by milestone-based instalments over 12 months. Further financial terms of the acquisition are not being disclosed. Under the terms of the agreement, Clinigen’s Specialty Pharmaceuticals division will assume full responsibility for Totect’s® manufacturing, registration, distribution, and commercialisation in the US. Totect® has method of use patent protection until 2020.

Peter George, chief executive officer, Clinigen Group, said: “By acquiring Totect® we have become the global supplier of dexrazoxane for extravasation and have gained access to the important US market. This product is a valuable addition to our global dexrazoxane portfolio and another step forward in our specialty pharmaceutical business strategy.”

Meanwhile, Clinigen has doubled its profits for the six mnonths to 31st December 2015. Profits stood at £44.1m – up from £22.1m in 2014.