EMCURE ENTERS INTO AGREEMENT TO ACQUIRE BRANDED ONCOLOGY PRODUCT FROM BMS
Emcure Pharmaceuticals Ltd. (“Emcure”) today announced that it has entered into a definitive agreement to acquire worldwide rights for BiCNU® (Carmustine for injection) from Bristol-Myers Squibb Company (NYSE: BMY). The product is a chemotherapy agent indicated for treatment of brain tumors, multiple myeloma, Hodgkin’s disease and non-Hodgkin’s lymphoma.
The acquisition is expected to increase Emcure’s presence in the global oncology market segment and serve as an anchor product in building the company’s full service oncology franchise. Mr. Satish Mehta, CEO of Emcure, said, “The acquisition of BiCNU® demonstrates Emcure’s commitment to building a leading franchise in the global oncology market. The BiCNU® acquisition coupled with our vertical integration and full line generic oncology pipeline allow us to provide an even wider array of value driven healthcare solutions.”
Under the agreement, upon closing, Emcure will acquire marketing rights and authorizations, trademarks, and the technology and know-how related to the product. Emcure will acquire all other marketing rights and authorizations held by Bristol-Myers Squibb on a global basis following a transition period during which Bristol-Myers Squibb will continue to distribute the product. Post acquisition, Emcure plans to sell the product through its subsidiaries, including Heritage Pharmaceuticals, Inc. in the United States, and in some cases, through Emcure’s marketing and distribution partners.
ABOUT EMCURE PHARMA
Emcure Pharma is a vertically integrated pharmaceutical company engaged in developing, manufacturing and marketing a broad range of pharmaceutical products globally including APIs, generics, biosimilars and differentiated formulations. Emcure, headquartered in Pune, India, has operations in India, USA, Latin America, Middle East, Africa and other emerging markets. With nine world class manufacturing facilities and advanced research and development centers, the group is dedicated to provide high quality effective medicines to society.