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GEN News Highlights : Nov 27, 2006

Mayne Acquires Remaining Rights to Hairy-Cell Leukemia Drug

Company pays SuperGen $8 million more for worldwide rights.

Mayne Pharma topped off its North American rights to SuperGen’s hairy-cell leukemia therapy by purchasing the remaining worldwide rights for $8 million. In August 2006, Mayne paid $34 million for the North American rights to Nipent® (pentostatin for injection).

SuperGen will receive approximately $3.75 million upfront. The balance includes $1.25 million to be paid depending on key events and $3 million over a five-year period on the anniversary of the closing date.

"This acquisition is in keeping with our strategy, announced last May, to acquire niche marketed or close-to-market proprietary products that strengthen our oncology focus across Europe,” remarks Mike Kotsanis, Mayne’s head of commercial operations for Europe, Middle-East, and Africa. Last year, Nipent reached European sales of almost $5 million.