Summary: Canadian pharmaceutical company Apotex Inc has acquired the US rights to Provigil (modafinil) and Nuvigil (armodafinil) through its affiliate, Nuvo Pharmaceuticals (Ireland). These medications, used to improve wakefulness in patients with narcolepsy, obstructive sleep apnea, or shift work sleep disorder, mark a strategic move to grow Apotex’s US specialty business. The acquisition aligns with Apotex’s strategy to expand its product portfolio and enhance patient care in the US market.
Key Takeaways:
- Strategic Acquisition: Apotex’s acquisition of Provigil and Nuvigil signals a step in growing its US specialty business and expanding its product portfolio.
- Therapeutic Focus: Provigil and Nuvigil target excessive sleepiness associated with narcolepsy, obstructive sleep apnea, and shift work disorder.
- Market Expansion: Apotex aims to leverage its established US distribution networks and commercial expertise to ensure effective access to these medications.
Canada-based pharmaceutical company Apotex Inc announced that its affiliate, Nuvo Pharmaceuticals (Ireland), has acquired the United States rights to Provigil (modafinil) and Nuvigil (armodafinil).
Provigil and Nuvigil become the latest branded medicines to be sold in the United States within the Apotex Group’s portfolio of more than 550 generic and branded prescription, over the counter, and biosimilar product families across all major therapeutic areas.
Provigil and Nuvigil each improve wakefulness in patients with excessive sleepiness associated with narcolepsy, obstructive sleep apnea or shift work sleep disorder, and are prescribed by psychiatrists, endocrinologists, internists, sleep specialists, and primary care physicians.
“Acquiring the US rights to Provigil and Nuvigil marks a strategic milestone for Apotex and a significant initial step in growing our US specialty business, building upon the recent achievement of similar specialty transactions in Canada and advancing our Journey of Health growth strategy,” says Allan Oberman, Apotex’s president and CEO, in a release. “These acquisitions further reinforce our long-term commitment to improving patient care and continuing to expand our presence in the US.”
Christine Baeder, president of Apotex Corp, Apotex’s US affiliate, adds in a release, “Provigil and Nuvigil address critical needs for patients experiencing excessive sleepiness. Leveraging our world-class commercial team, established distribution networks, and expertise in the US market, we are well-positioned to ensure these medications continue to reach patients effectively.”
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