Fleming Pharma Sells Products to Valeant

Fleming Pharmaceuticals has sold its rights to its branded Ocean, Nephrocaps, Magonate and ProBarimin QT products to Valeant International SRL. Valeant has appointed its affiliate, Valeant Pharmaceuticals North America LLC, to distribute these products in the U.S.

Fleming also manufactures contract products for a broad customer base, including the federal government. Fleming has retained rights to manufacture and market ThyroShield, one of two FDA-approved potassium iodide medicines used in nuclear emergencies to block the absorption of radioactive iodine to avoid thyroid cancer. In addition, Fleming has retained its contract services business relating to the development, manufacture and testing for specialty pharmaceutical companies and its headquarters in St. Louis, MO.

Due to the excess capacity anticipated as a result of the sale of the four products, the company is now considering proposals from a number of pharma manufacturers for its Midwestern manufacturing facilities.