Pfizer said today it will acquire InnoPharma for $225 million upfront, plus an additional up-to-$135 million tied to milestones, in a deal that expands the buyer’s generic and injectable drug offerings.
InnoPharma’s current portfolio includes 10 generic products approved by the FDA, as well as a pipeline of 19 additional products under review by the agency, and more than 30 injectable and ophthalmic products under development.
InnoPharma specializes in developing new formulations of existing drugs for cancer and central nervous disorders—including products that are deemed hard-to-make because they require complex manufacturing capabilities or have bio-equivalency challenges.
Established in 2005, InnoPharma has an R&D facility in Piscataway, NJ, with capabilities in complex injectable delivery forms—including pens and depot injectables. The company has been working to leverage its expertise to expand into new dosage forms, including oral suspensions and nasal. InnoPharma’s portfolio already includes among its formulations solutions, suspensions, lyophilized, emulsions, liposomes, micelles, and lipid complexes.
“Today’s announcement is an important milestone as we continue to look for innovative growth opportunities for our sterile injectables portfolio, which will increase to seventy three products with this acquisition,” John Young, group president, Pfizer Global Established Pharma (GEP), said in a statement.
Pfizer Injectables is part of GEP, and includes the manufacturing, production and sale of human pharmaceutical and surgiceutical products. Pfizer will expand its active sterile injectable portfolio from the current 44 products to 73 products, include drugs that are currently marketed and drugs filed with the FDA.
The deal is subject to regulatory approvals and is expected to be completed in the third quarter, Pfizer and InnoPharma said.