Acquisition is expected to realize over $10M in annual synergies
Results in Currax owning the global rights to CONTRAVE®
In connection with this transaction, Currax repaid 25% of its outstanding debt
Currax anticipates revenues in excess of $100M
September 27, 2019
Morristown, NJ – Currax Pharmaceuticals LLC, a specialty biopharmaceutical company with both Branded and generic business units, announced today the acquisition of Nalpropion Pharmaceuticals. As a result of this acquisition, Currax now owns the world-wide rights to CONTRAVE, which is the number one prescribed weight-loss brand medication in the United States.
CONTRAVE is a prescription weight-loss medicine with patent protection until 2034. CONTRAVE works in two parts of the brain to help some adults control their eating, resulting in sustained weight loss. Contrave is indicated to help patients with a body mass index (BMI) of 30kg/m2 or greater (obese), or adults with a BMI of 27 kg/m2 or greater (overweight) with at least on weight-related medical problem such as high blood pressure, high cholesterol, or type 2 diabetes, to lose weight and maintain their weight loss.
“It is exciting to announce our second acquisition in as many days” said George Hampton, chief executive officer of Currax Pharmaceuticals LLC. “This acquisition bolsters our Branded portfolio and demonstrates that we are successfully executing on our business strategy to acquire clinically differentiated medicines with high potential for growth and extended IP life.”
CONTRAVE was approved by FDA on September 10, 2014.
About Currax Pharmaceuticals LLC
Currax Pharmaceuticals LLC is a specialty pharmaceutical business focused on acquiring and commercializing prescription drugs within the US market. Currax distributes a range of both Branded and generic pharmaceutical products, including Silenor®, Treximet®, Zohydro® ER with BeadTek®, the authorized generic of Treximet®, and now ONZETRA® Xsail®.
About Nalpropion, Inc.
Nalpropion is a biopharmaceutical company focused on the treatment of weight loss. CONTRAVE (naltrexone HCl and bupropion HCl extended release), was approved in the United States in September 2014 and has become the most prescribed branded obesity medication since June 2015. In Europe, the drug has been approved under the brand name Mysimba™ (naltrexone HCl/ bupropion HCl prolonged release).
Important Safety Information for CONTRAVE
CONTRAVE can cause serious side effects of suicidal thoughts or actions. One of the ingredients in CONTRAVE is bupropion HCl. Bupropion has caused some people to have suicidal thoughts or actions or unusual changes in behavior, whether or not they are taking medicines used to treat depression. Bupropion may increase suicidal thoughts or actions in some children, teenagers, and young adults within the first few months of treatment. If you already have depression or other mental illnesses, taking bupropion may cause it to get worse, especially within the first few months of treatment.
Stop taking CONTRAVE and call a healthcare provider right away if you, or your family member, have any of the following symptoms, especially if they are new, worse, or worry you: thoughts about suicide or dying; attempts to commit suicide; depression; anxiety; feeling very agitated or restless; panic attacks; trouble sleeping (insomnia); irritability; acting aggressive, being angry or violent; acting on dangerous impulses; an extreme increase in activity and talking (mania); other unusual changes in behavior or mood.
While taking CONTRAVE, you or your family members should pay close attention to any changes, especially sudden changes, in mood, behaviors, thoughts, or feelings and maintain communication with your healthcare provider. CONTRAVE has not been studied in and is not approved for use in children under the age of 18.
Do not take CONTRAVE if you:
- Have uncontrolled high blood pressure
- Have or have had seizures
- Use other medicines that contain bupropion such as WELLBUTRIN, WELLBUTRIN SR, WELLBUTRIN XL, and APLENZIN
- Have or have had an eating disorder called anorexia or bulimia
- Are dependent on opioid pain medicines or use medicines to help stop taking opioids such as methadone or buprenorphine, or are in opiate withdrawal
- Drink a lot of alcohol and abruptly stop drinking, as this may increase your chance of having a seizure; or use medicines called sedatives (these make you sleepy), benzodiazepines, or anti-seizure medicines and you stop using them all of a sudden
- Have taken medicines called monoamine oxidase inhibitors (MAOIs), including linezolid, within the last 14 days
- Are allergic to naltrexone HCl or bupropion HCl or any of the ingredients in CONTRAVE
- Are pregnant or planning to become pregnant. Tell your healthcare provider right away if you become pregnant while taking CONTRAVE
Possible serious side effects of CONTRAVE:
- If you have a seizure, stop taking CONTRAVE, tell your healthcare provider right away, and do not take CONTRAVE again
- If you take opioid medicines, there may be a risk of opioid overdose. You should get emergency medical help right away if you have trouble breathing; become drowsy with slowed breathing; have slow, shallow breathing; or feel faint, dizzy, or confused
- Sudden opioid withdrawal can be severe and may require hospitalization
- Stop taking CONTRAVE and get medical help immediately if you have any of the following signs and symptoms of severe allergic reactions: rash, itching, hives, fever, swollen lymph glands, painful sores in your mouth or around your eyes, swelling of your lips or tongue, chest pain, or trouble breathing
- Increases in blood pressure or heart rate may occur
- CONTRAVE can cause liver damage or hepatitis. Stop taking CONTRAVE if you have any of the following symptoms of liver problems: stomach area pain lasting more than a few days, dark urine, yellowing of the whites of your eyes, or tiredness
- Manic episodes can occur. CONTRAVE can cause some people who were manic or depressed in the past to become manic or depressed again
- CONTRAVE can cause visual problems (angle-closure glaucoma). Signs and symptoms may include: eye pain, changes in vision, swelling or redness in or around the eye. Talk with your doctor to find out if you are at risk and to get treatment to prevent it
- Increased risk of low blood sugar (hypoglycemia) in people with type 2 diabetes mellitus who also take medicines to treat their diabetes (such as insulin or sulfonylureas). You should check your blood sugar before you start and while taking CONTRAVE