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news.Irish specialty pharmaceutical firm Actavis has entered into an agreement to divest the US rights of Doryx brand acne treatment and related assets to Mayne Pharma for about $50m.
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Doryx (doxycycline hyclate delayed-release tablets) is a tetracycline-class antimicrobial designed as adjunctive therapy for severe acne.
Actavis EVP Commercial, North American Brands 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."
As part of the deal, Actavis will continue to package, distribute and promote the product for a transition period until 02 May following the close of the transaction.
The company said that the transaction is expected to be completed prior to the end of February.