Alvogen buys Today Sponge assets

Today Sponge is constructed of soft polyurethane foam containing a well-known, locally acting, non-systemic spermicide, N-9, the company said. The manufacturing process involves both sponge creation and active ingredient introduction in a continuous-process production environment.

According to the company, the Today Sponge affords the freedom and flexibility of 24-hour protection and also provides a safe and effective non-hormonal birth control alternative to women.

Alvogen is currently engaged in a selection process for marketing partners that will enhance sales of the Today Sponge in the US and internationally. Approvals for sale have been established in the US, Canada, the UK and other countries, with significant potential for introductions in Latin America and Asia.

Douglas Drysdale, CEO of Alvogen, said: “This acquisition aligns with our singular focus of acquiring, developing, manufacturing and marketing our pipeline of high value products. We are building this pipeline around the generation a robust product portfolio of complex generic drugs with significant barriers to entry.”