Clinigen Group acquires oncology drug from AstraZeneca

20th Aug 2014 09:37

Pharmaceutical group Clinigen has acquired the global rights to Astrazeneca's drug Ethyol, which is expected to treat dry mouth in patients receiving radiation treatment.The drug, which was purchased for an undisclosed amount, will be the group's fifth product in its specialty pharmaceuticals portfolio.Meanwhile, Ethyol adds a third leg to Clinigen's oncology offering, which already includes Cardioxane and Savene. The drug generated revenues of $4.9m in 2013.Chief executive Peter George said: "This acquisition is in line with our stated strategy of acquiring niche, hospital-only therapies which have the potential to save and improve the lives of critically ill patients. "Ethyol was originally identified through our acquisition database of large pharma product candidates as a very good fit for Clinigen's business model."As of 08:58 the share price had risen 4.02% to 415.75p.WS