Jan 30, 2008
TEST: Iroko Purchases Cardiovascular Product from Merck & Co.
Acquisition is expected to allow Iroko to exceed $100 million in annual revenues.
Iroko Pharmaceuticals has acquired all non-U.S. commercial rights to Aggrastat® from Merck & Co. In this market, Aggrastat is marketed to prevent cardiac ischemic complications.
“Aggrastat substantially builds on Iroko’s presence in the cardiovascular space and leverages our existing worldwide capabilities and infrastructure,” remarks Osagie Imasogie, Iroko’s chairman. “This transaction is consistent with our strategy of growing Iroko through targeted asset acquisitions. We are pleased that with the acquisition of Aggrastat, Iroko’s annual revenues will achieve a major milestone by exceeding $100 million on a most recent year basis.”
Specifically, Aggrastat is used along with heparin in patients with unstable angina or non-Q wave myocardial infarction to prevent cardiac ischemic events. The combination is also approved in patients with coronary ischemic syndromes undergoing coronary angioplasty or atherectomy to prevent cardiac ischemic complications related to abrupt closure of the treated coronary artery. Aggrastat is also indicated for the treatment of acute coronary syndrome in patients undergoing percutaneous transluminal coronary angioplasty.