Iroko Acquires Rights to Merck Drug for PTCA Patients
January 30, 2008 - Iroko Pharmaceuticals (Iroko) acquired all non-U.S. commercial rights to Aggrastat (tirofiban HCl) from Merck & Co. Inc., used for patients undergoing coronary angioplasty or atherectomy to prevent cardiac ischemic complications, in a move Iroko hopes will strengthen its presence in the cardiovascular market.
Outside of the U.S. market, Aggrastat in combination with heparin is indicated for patients with unstable angina or non-Q wave myocardial infarction to prevent cardiac ischemic events, and is also indicated for patients with coronary ischemic syndromes undergoing coronary angioplasty or atherectomy to prevent cardiac ischemic complications related to abrupt closure of the treated coronary artery. Aggrastat is indicated for the treatment of acute coronary syndrome, including patients who are to be managed medically and those undergoing percutaneous transluminal coronary angioplasty (PTCA).
"We are very pleased to conclude another transaction with Merck by acquiring this patent-protected asset," stated Osagie Imasogie, Iroko's chairman and senior managing partner of Phoenix IP Ventures. "Aggrastat substantially builds on Iroko's presence in the cardiovascular space and leverages our existing worldwide capabilities and infrastructure. This transaction is consistent with our strategy of growing Iroko through targeted asset acquisitions. We are pleased that, with the acquisition of Aggrastat, Iroko's annual revenues will achieve a major milestone by exceeding $100 million dollars on a most recent year basis."
For more information: www.iroko.com and www.merck.com