26 August 2011 Business
Industry news, September 2011
Allergan, best known as the company behind Botox (onabotulinumtoxin A) injections, has agreed to buy US drug maker MAP Pharmaceuticals for $958 million (£600 million).
MAP specialises in neurology. The highlight of its portfolio is Levadex (dihydroergotamine) oral inhalation for the treatment of migraine, which is under review by US regulatory authorities. MAP submitted it for the first time in May 2011 but the regulators pushed it away in March 2012, citing: chemistry, manufacturing and controls; manufacturing deficiencies at a third party manufacturer; and the need for additional time to complete a review of inhaler usability information. The company resubmitted the drug in November 2012.
The two companies already work together on Levadex. In January 2011, Allergan agreed to a $157 million co-promotion deal. But this deal will give Allergan complete access to the product.
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