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April 24, 2014 /PRNewswire/ -- Endo International plc (NASDAQ: ENDP) (TSX: ENL) announced today that affiliates of the company have acquired worldwide rights to Sumavel
® (sumatriptan injection) for subcutaneous use, a needle-free delivery system for sumatriptan, from Zogenix, Inc.
Under the terms of the agreement, Endo is acquiring the product for an upfront payment of
$85 million and rights to additional cash payments based on the achievement of certain commercial milestones. In addition, Endo will assume an existing third party royalty obligation on net sales.
"We are pleased to acquire the worldwide rights to Sumavel DosePro to enhance our branded pharmaceutical portfolio," said
Rajiv De Silva, President and CEO of Endo. "We are focused on completing a seamless transition of commercial support for this currently marketed product that will leverage our existing commercial expertise in pain and migraine management and the current infrastructure of our branded pharmaceuticals business overall."
Sumavel DosePro is a prescription medicine given with a needle-free delivery system to treat adults who have been diagnosed with acute migraine or cluster headaches. In clinical studies, relief started within 10 minutes for some patients, with most achieving relief within 1 or 2 hours. A burst of air delivers sumatriptan just under the skin in less than a second. Sumavel DosePro is designed to be used in just 3 simple steps: SNAP, FLIP, PINCH & PRESS. In a study evaluating the effectiveness of instructions for use, 51 out of 52 people used Sumavel DosePro correctly the first time with little instruction during a migraine attack.
IMPORTANT SAFETY INFORMATION
There have been rare reports of serious cardiac adverse reactions, including acute myocardial infarction, occurring within a few hours following administration of Sumavel DosePro. Some of these reactions occurred in patients with no known coronary artery disease (CAD). Sumavel DosePro may cause coronary artery vasospasm (Prinzmetal's angina), even in patients without a history of CAD. Cerebrovascular events, some fatal, have been reported in patients treated with sumatriptan. In a number of cases, it appears possible that the cerebrovascular events were primary, sumatriptan having been administered in the incorrect belief the symptoms experienced were a consequence of migraine when they were not. It is important to advise patients not to administer Sumavel DosePro if a headache being experienced is atypical.