Ireland-based Actavis has signed an agreement with Mayne Pharma to sell its US rights of Doryx brand acne treatment and related assets for around $50m.
Doryx (doxycycline hyclate delayed-release tablets) is a tetracycline-class antimicrobial, developed as adjunctive therapy for severe acne.
As part of the deal, Actavis will continue the packaging, distribution and promotion of the product for a transition period until 02 May, following the close of the deal.
Actavis North American Brands executive vice-president commercial William Meury said: "Actavis currently licenses and distributes Doryx in the US as part of our legacy Warner Chilcott partnership with Mayne, which is eligible to expire at the end of 2015.
"By agreeing to return the product to Mayne now, we receive value for the asset and, following a brief transition period, will enable our sales and marketing teams to focus their time and attention on supporting the expanded, industry-leading dermatology portfolio that will be part of our combined company following the acquisition of Allergan later this year.
"We are committed to investing in our expanded dermatology portfolio and in our R&D pipeline in this important category, and look forward to continuing to grow our business within dermatology."
The transaction is expected to be completed by the end of this month, noted Actavis.
Last week, Actavis signed an agreement with AstraZeneca to divest its branded respiratory business in the US and Canada, for an initial consideration of around $600m.
Under the agreement, Actavis will also receive an additional $100m from AstraZeneca, as well as agreed to multiple contractual consents and approvals, including certain amendments to the ongoing collaboration agreements between both the firms.
Image: Actavis Biologics Ltd, Estuary Banks, Liverpool. Photo: courtesy of Rept0n1x.
