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news.Covis has signed an agreement to acquire rights from GlaxoSmithKline for Fortaz (ceftazidime), Zinacef (cefuroxime), Lanoxin (digoxin), Parnate (tranylcypromine sulfate), and Zantac Injection (ranitidine hydrochloride) in US and Puerto Rico.
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GlaxoSmithKline will retain the existing rights for these products in countries outside the US. Terms of the agreement have not been disclosed.
GSK will manufacture and supply Fortaz Injection, Zinacef Injection, Parnate, and Zantac Injection to Covis.
Lanoxin Tablets and Injection, Fortaz Frozen, Zinacef Frozen and Zantac Injection Premixed will continue to be manufactured and supplied by current third-party suppliers.
The agreement has received Hart-Scott-Rodino regulatory clearance in the US. Bourne Partners acted as a financial advisor to Covis Pharma.
Covis CEO Jack Davis said their management team looks forward to build platform beyond the current focus on the acute care, cardiovascular and CNS markets, into new therapeutic areas.