Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Spectrum Pharmaceutical has received a cash payment of $20 million from Par Pharmaceutical, the company's marketing partner for sumatriptan injection, for the sale of its share of profits from the commercialization of sumatriptan injection.
Subscribe to our email newsletter
Sumatriptan injection is the generic form of GlaxoSmithKline’s Imitrex injection, which is currently selling on the market and is indicated for the acute treatment of migraine attacks with or without aura and the acute treatment of cluster headache episodes.
Rajesh Shrotriya, chairman, president and CEO of Spectrum, said: “This cash infusion represents a majority of our estimated 2008 net use of cash for operations. Not only does this cash infusion obviate the need to raise cash anytime soon, it enhances our ability to successfully launch LEVOleucovorin and carry out our business plan without having to worry about the financial markets at this time.”