ANI Pharmaceuticals, Inc. today announced that it has acquired the approved new drug application (“NDA”) for a testosterone gel 1% product previously licensed to Teva Pharmaceuticals. Upon commercialization, ANI will pay Teva up to $5 million at a rate of 5% of the consideration received by ANI as a result of commercial sale of the product. According to IMS Health, the overall market for testosterone gel 1% was approximately $300 million in 2014.
Arthur S. Przybyl, President and Chief Executive Officer said, “We are pleased to acquire this NDA from Teva and will begin work immediately to maximize the value of this product.”
Source: ANI Pharmaceuticals
Filed Under: Drug Discovery