IGI Labs Acquires Two Valeant Products

IGI Laboratories, Inc. has acquired two previously marketed ophthalmic drug products, along with the to right to acquire three additional previously marketed injectable drugs from affiliates of Valeant Pharmaceuticals. All of the products have been approved by the FDA as abbreviated new drug applications (ANDAs) or new drug applications (NDAs). The current U.S. market for the therapeutic areas these products were indicated for is estimated at $38 million, as of August 2014, according tot IMS Health.   
 
IGI also recently acquired the regulatory rights to 18 drug products from AstraZeneca, 17 of which are marketed and include 17 injectable products and 1 suppository product. According to IMS Health, the current market in the U.S. for these therapeutic areas, is estimated at $200 million as of May 2014
 
Jason Grenfell-Gardner, president and chief executive officer of IGI, said, “We expect that this acquisition will allow us to continue to execute our strategy to be a leader in the specialty generic pharmaceutical drug market. This opportunity will allow IGI to leverage almost all of the various areas of the IGI value chain, including sales and distribution, logistics, regulatory services, and our existing support structure.  We hope to have these products in the market under our IGI label by the end of 2015.”