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news.Pfizer has completed the acquisition of US-based pharmaceutical development company InnoPharma, following receipt of US regulatory approval from all government authorities required by the agreement and other closing conditions.
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Earlier, Pfizer agreed to make an upfront payment of $225m to InnoPharma and up to $135m of contingent milestone payments.
InnoPharma has developed capabilities in complex injectable delivery forms, including pens and depot injectibles, and is working to use this expertise to expand into new dosage forms, including oral suspensions and nasals.
Pfizer Global Established Pharma (GEP) group president John Young said this acquisition will help the company build a strong sterile injectables pipeline in areas such as oncology and central nervous disorders.
"Sterile injectables is one of several areas of potential growth for GEP," Young said.
"This acquisition reflects our continued view that attractive growth opportunities, both external and organic, exist for the business."
Pfizer Injectables is part of the company’s GEP business and it includes manufacturing, production and sale of human pharmaceutical and surgiceutical products.
The current portfolio of InnoPharma includes ten generic products approved by the US Food and Drug Administration (FDA), a pipeline of 19 products filed with FDA, and more than 30 injectable and ophthalmic products under development.
Currently, InnoPharma is looking to develop new formulations of existing drugs, including products that require complex manufacturing capabilities or have bio-equivalency challenges, in areas such as cancer and central nervous disorders.
Image: Pfizer world headquarters. Photo: courtesy of Jim.henderson.