IGI Labs Acquires Eighteen Former AZ Products

IGI Laboratories, Inc., a NJ-based specialty generics company, has acquired the regulatory rights to 18 drug products from AstraZeneca, 17 of which are marketed and include 17 injectable products and 1 suppository product. All of the products had been approved by the FDA as ANDAs or NDAs prior to their discontinuation or withdrawal from the market. According to IMS Health, the current market in the U.S. for the therapeutic areas the products are indicated for, is estimated at $200 million as of May 2014.
 
Jason Grenfell-Gardner, president and chief executive officer of IGI Laboratories, said, “This acquisition begins the next critical phase of our growth strategy, and will enable us to expand our existing generic topical pharmaceutical platform to now include injectable products. Expanding our development and commercial focus to include injectable pharmaceutical products will leverage our existing expertise and capabilities, and broaden our platform for sustainable growth. Almost half of the products we acquired are currently listed on the US FDA shortage list, and we look forward to working closely with the US FDA to return these products to the market as soon as possible.”