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September 14, 2018updated 17 Sep 2018 10:05am

Deals this week: Walgreens, Novartis, Active Biotech

US-based drugstore operator Walgreens has partnered with kaléo to develop an alternative epinephrine auto-injector named AUVI-Q, to address the shortage of EpiPen.

US-based drugstore operator Walgreens has partnered with kaléo to develop an alternative epinephrine auto-injector named AUVI-Q, to address the shortage of EpiPen.

Discovered and developed by Mylan, Epipen is used to treat severe allergic attacks.

Wholesalers and pharmacies are facing a shortage of the device for the past few months.

The partnership will enable Walgreens to make Auvi-Q available at retail pharmacies and address the shortage of EpiPen.

AUVI-Q is a prescription drug approved by the US FDA for treating emergency allergic reactions, including anaphylaxis.

Based in the US, kaléo is a developer and marketer of pharmaceutical and medical products.

Novartis has entered an agreement to divest the dermatology and generic businesses of its subsidiary, Sandoz US, to Aurobindo Pharma USA for $900m.

Novartis will also receive $100m in potential earn-outs from Aurobindo, as per the agreement.

The asset transaction includes transfer of a dermatology development centre and three manufacturing facilities to Aurobindo.

“Novartis has entered an agreement to divest the dermatology and generic businesses of its subsidiary, Sandoz US, to Aurobindo Pharma USA for $900m.”

The transaction is expected to be closed in 2019, subject to customary closing conditions.

Based in Switzerland, Novartis is a pharmaceutical company engaged in the manufacture of healthcare and pharmaceutical products, while Aurobindo is a pharmaceutical manufacturing company based in India.

The divestment will enable Sandoz to focus on the development of complex drugs and biosimilars, and gain long-term profits in the country.

Active Biotech has regained global rights to develop and commercialise its drug candidate, laquinimod, from Teva Pharmaceutical Industries.

Teva signed an agreement with Active Biotech for the development of laquinimod in June 2004, which provided the company with the worldwide rights to develop and commercialise the drug.

Laquinimod is indicated for the treatment of neurodegenerative diseases such as multiple sclerosis (MS) and Huntington’s disease (HD).

Based in Sweden, Active Biotech is engaged in the development of new therapies for neurodegenerative disorders and cancers, while Teva is an Israel-based pharmaceutical company that manufactures and markets generic drugs.

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