Spectrum has given up its share of profits related to sumatriptan injection to focus on launching its newly sanctioned drug.

Spectrum Pharmaceuticals sold its share of profits from the commercialization of sumatriptan injection to its marketing partner, Par Pharmaceutical, for $20 million.


Sumatriptan injection is the generic form of GlaxoSmithKline’s Imitrex® injection, which is indicated for the acute treatment of migraine attacks with or without aura and the acute treatment of cluster headache episodes.


“The sumatriptan injection partnership with Par has provided us approximately $27 million in nondilutive funding since 2006, when we saw an opportunity outside of our core business in the field of oncology and urology,” comments Rajesh C. Shrotriya, M.D., chairman, president, and CEO.


“This cash infusion today represents a majority of our estimated 2008 net use of cash for operations. Not only does this cash infusion obviate the need to raise cash anytime soon, it enhances our ability to successfully launch LEVOleucovorin and carry out our business plan without having to worry about the financial markets at this time.”


In March, Spectrum received FDA approval for LEVOleucovorin as a high-dose methotrexate therapy in patients with osteosarcoma and to diminish the toxicity and counteract the effects of impaired methotrexate elimination or inadvertent overdose of folic acid antagonists.

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