Olon SpA has agreed to purchase an active pharmaceutical ingredient (API) manufacturing plant located in Mahad, India, from Novartis for an undisclosed sum.
The Mahad manufacturing facility provides products to Novartis’ Sandoz unit, as well as other lifesaving medicines distributed in the Indian and global markets.
The asset-purchase agreement includes a long-term supply contract that guarantees the continuous supply of Sandoz products manufactured at the Mahad site.
Based in Italy, Olon is a producer of APIs, while Novartis is a Switzerland-based pharmaceutical company that manufactures generic drugs, over-the-counter drugs, and vaccines.
The acquisition is part of Olon’s strategy to expand its global footprint and to leverage its business development opportunities.
The transaction is expected to be closed in the first quarter of 2019.
The agreement involves the development and commercialisation of the drug, which is currently being assessed in clinical trials.
MannKind will produce the initial and clinical supplies of treprostinil from its Connecticut facility, while United Therapeutics will be responsible for the development and commercialisation of the drug.
United Therapeutics will make an upfront payment of $45m to MannKind and $50m in milestone payments upon fulfilling certain development targets. MannKind will also receive royalties on the sales of the drug.
Based in the US, MannKind is a biopharmaceutical company, while United Therapeutics, also based in the US, specialises in the development and commercialisation of products for unmet medical needs.
Shire has sold its oncology unit to Servier for $2.4bn in cash.
The asset transaction also includes the transfer of ONCASPAR®, which is used for the treatment of acute lymphoblastic leukaemia, and ex-US rights to ONIVYDE®, which is indicated for treating metastatic pancreatic cancer.
Based in Ireland, Shire is a biopharmaceutical company engaged in the development of products for life-threatening diseases, while Servier is a French pharmaceutical company specialising in the development of medicines for cardiological disorders.
The acquisition will strengthen Servier’s portfolio in the field of oncology.
Vertex Pharmaceuticals has entered a three-year collaboration agreement with Genomics to advance the discovery of new medicines.
The two companies will combine their expertise in human genetics and drug discovery to identify innovative targets for precision medicines, as part of the agreement.
Based in the US, Vertex is a pharmaceutical company that develops medicines for unmet medical needs, while Genomics is a genome analysis company based in the UK.