Axcan Holdings to buy specialty pharmaceutical firm Eurand for $583 million
02 Dec 2010
Axcan Holdings, a privately held pharmaceutical company focused on the treatment of gastro-intestinal disorders, yesterday agreed to buy Netherlands-based specialty pharmaceutical company Eurand NV, for $583 million in cash.
Eurand is a specialty pharmaceutical company that develops, manufactures and commercialises enhanced pharmaceutical and bio-pharmaceutical products based on its proprietary pharmaceutical technologies.
Eurand has had six products approved by the FDA since 2001 and has a pipeline of product candidates in development for itself and its collaboration partners. Its drug products are in a range of therapeutic areas, including cardiovascular, gastrointestinal, pain, nutrition and respiratory.
Its technology platforms include bio-availability enhancement of poorly soluble drugs, custom release profiles and taste-masking / orally disintegrating tablet (ODT) formulations.
Amsterdam-based Eurand was formed in 1999 when affiliates of Warburg Pincus and Gearoid Faherty, its chairman and CEO, acquired the drug delivery business of American Home Products Corporation, now Wyeth.
The company has operating subsidiaries in the US, Italy, France and Ireland.