Indivior sells China opioid treatment drug as it looks to focus on its core products
Drug company Indivior has agreed to sell its rights related to the Sai Bo Song (buprenorphine, naloxone) tablet in China to Zhejiang Pukang Biotechnology for $122.5m (£93.6m).
The pharmaceutical company said the sale of the tablet was part of its strategy to focus its resources on its core assets and markets.
"The divestiture of the Sai Bo Song tablet in China is consistent with Indivior's efforts to prioritise efforts on the long-term growth opportunities with our new depot assets, Sublocade and Perseris," said Shaun Thaxter, chief executive of Indivior. "This transaction helps us focus our resources on the highest return opportunities in the regions we know best, while ensuring patients in China have access to an important and transformational treatment."
Torreya is acting as financial advisor to Indivior on the transaction and Covington & Burling is acting as its legal advisor.
Separately, the company said today that it had entered an agreement with Alvogen Pine Brook, enjoing it from selling or importing to the US its generic buprenorphine and naloxone sublingual film product.
Indivior had been granted a temporary restraining order against Alvogen and a preliminary injunction case had been scheduled for early Februrary. This case will now not happen, but Indivior said it would still pursue its infringement cases against Alvogen.