Baton Rouge-based OncBioMune Pharmaceuticals is acquiring a generic drug that treats low blood pressure and heart failure from the Israel-based multinational pharmaceutical firm, Teva Pharmaceuticals Industries.
OncBioMune says it is acquiring the intellectual property rights and sanitary certificates—which confirms that the drug has been inspected and meets sanitary requirements—for Norepinefrine, a drug that’s already approved in Mexico.
The financial terms of the agreement have not been disclosed. The company says the drug’s registration can be used in other Central and Latin American countries as well.
“Mexico is one of the top five emerging markets globally, principally with generics. Teva has a broad portfolio of generics that are overlapping in some strategic markets, which presented an opportunity for us to acquire another revenue-generating drug,” OncBioMune CEO Jonathan Head says in a prepared statement. “We intend to remain aggressive in our acquisition strategy to grow our high specialty footprint in Mexico and across all of Central and South America to capitalize on the burgeoning markets.”
OncBioMune hopes to complete the acquisition in the second quarter of this year. The Baton Rouge firm recently completed the acquisition of Mexican specialty drug maker, Vitel Laboratorios S.A.
—Alexandria Burris
