London, 11 September 2014, 07:00 AM BST: Norgine B.V. today announced that its subsidiary Norgine Ltd has agreed to sell all rights in the UK for SOMNITE® (nitrazepam mixture 2.5mg/5ml oral suspension BP)[i] and the commercial rights in the UK and Ireland for CAMCOLIT® 250mg and 400mg (lithium carbonate)[ii] . SOMNITE® is a prescription only medicine and is used to treat insomnia and CAMCOLIT® is a prescription only medicine for the treatment of mania, manic depressive illnesses and the treatment of aggressive or self mutilating behaviour.
Norgine will continue to commercialise CAMCOLIT® in countries outside the UK and Ireland but will no longer commercialise SOMNITE®.
Peter Stein, CEO at Norgine said: “Following our strategic review, we believe this transaction represents an excellent outcome for Norgine as it allows us to focus on our late stage portfolio while ensuring that patients can continue to access to CAMCOLIT® in the UK and Ireland and SOMNITE® in the UK.
The financial terms of the divestment are not being disclosed.
Isabelle Jouin, Norgine Corporate Communications, +44 (0)1895453643
Charlotte Andrews, Norgine Corporate Communications, +44 (0)1895453669
Norgine is a leading independent European specialty pharmaceutical company that has been established for over 100 years and has a presence in all major European markets. In 2013, Norgine’s total revenue was €274 million and the company employs over 1,000 people.
Norgine’s focus is the development and marketing of pharmaceutical products that address significant unmet clinical needs in therapeutic areas such as gastroenterology, hepatology, critical and supportive care. Norgine owns a manufacturing and development site in Hengoed, UK and a manufacturing site in Dreux, France. For more information, please visit www.norgine.com.
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US.
For more information, please visit www.norgineventures.com.
NORGINE and the sail logo are trademarks of the Norgine group of companies.
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