Deals this week: Elite Pharmaceuticals, Orexigen Therapeutics, LegoChem Biosciences

1 September 2016 (Last Updated September 1st, 2016 18:30)

Elite Pharmaceuticals and SunGen Pharma LLC have entered a development and licensing agreement for four generic pharmaceutical products.

Elite Pharmaceuticals and SunGen Pharma LLC have entered a development and licensing agreement for four generic pharmaceutical products.

According to the agreement, the two partners will share the costs and responsibilities of developing the products, which will be equally owned by both the companies. Furthermore, Elite Pharma will be responsible for manufacturing and packaging of the four products on a cost plus basis.

The transaction enables the two partners to develop and commercialise four generic products, of which two are CNS stimulants and two are beta blockers.

Orexigen Therapeutics has entered a distribution agreement with Valeant Canada to commercialise Contrave tablets in Canada.

"Orexigen Therapeutics has entered a distribution agreement with Valeant Canada to commercialise Contrave tablets in Canada."

According to the agreement, Orexigen will be responsible to supply Contrave tablets for a fixed transfer price and also make certain potential regulatory and sales milestone payments to Valeant Canada.

Valeant Canada will be responsible for obtaining Canadian regulatory approval and all commercialisation activities and expenses.

The agreement enables the two companies to commercialise Contrave tablets in Canada.

LegoChem Biosciences has announced a private placement of its shares for raising gross proceeds of up to $21.8m.

Arcus Biosciences has raised $70m in a venture financing round led by GV and co-led by Stanford University, Invus Group, LLC, Taiho Pharmaceutical, Droia NV and its existing investors.

The company plans to use the funds to advance its three antibody drugs.

Xiangxue Pharmaceutical Co Ltd. has completed public offering of its short-term notes, due 2017.

China Minsheng Banking Corp acted as book runners and underwriter for the offering, from which the company has raised gross proceeds of $112m.