Questcor Pharmaceuticals Closes Transaction to Acquire International Rights to Synacthen® and Synacthen® Depot

Life Science Weekly |

By a News Reporter-Staff News Editor at Life Science Weekly -- Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) announced that the transaction acquiring rights to Synacthen(®) and Synacthen(®) Depot from Novartis Pharma AG and Novartis AG in certain countries outside the U.S. has now closed. Available in more than forty countries for multiple indications, Synacthen (tetracosactide) is a synthetic 24 amino acid melanocortin peptide. Synacthen Depot is a depot formulation of Synacthen. The products are approved outside the U.S. for multiple indications, including certain autoimmune and inflammatory conditions as well as for diagnostic use, but have never been developed or approved for patients in the U.S. Questcor is presently engaged in pre-clinical development for Synacthen in the U.S (see also Questcor Pharmaceuticals, Inc.). "As a leader in melanocortin peptide therapeutics, we now have the opportunity with Synacthen to expand our commercial presence to more than forty international markets, and develop a new potential platform for international growth in this important emerging field of medicine," said Steve Cartt, Chief Operating Officer of Questcor. "With the international team that we now have in place, the closing of this transaction positions us to begin the process of reinvigorating this important therapeutic in international markets," continued Mr. Cartt. "Importantly, we are also currently conducting a pre-clinical evaluation of Synacthen for the U.S. market, with the goal of working with the FDA to eventually make it available to U.S. patients." Under the terms of the transaction agreements, Questcor will have the right to develop, market, manufacture, distribute, sell and commercialize Synacthen in all countries worldwide except for 13 European countries in which Novartis has previously granted rights to another third party. This process will involve the transfer to Questcor of individual marketing authorizations in more than forty countries outside the U.S. With the first transfer expected to take place mid-2014, Questcor anticipates that the marketing authorizations for Synacthen currently held by Novartis will be transferred to Questcor on or before the end of 2016. Keywords for this news article include: Questcor Pharmaceuticals Inc, Marketing, Advertising, Peptide Hormones, Pituitary Hormones, Pro-Opiomelanocortin, Investment and Finance. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC

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Symbol Name Price Change % Volume
APAFF Vanadiumcorp Res Inc Ord 0.03 0.00 2.06 1,000


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