Sackler-owned Mundipharma acquires biosimilar firm Cinfa Biotech
pharmafile | October 10, 2018 | News story | Research and Development | Mundipharma, biosimilar, cinfa biotech, sackler
In a bid to strengthen their biosimilar portfolio, the Cambridge based pain management company Mundipharma has acquired biosimilar development firm Cinfa Biotech.
Mundipharma, owned by the notorious Sackler family, have been focused on expanding the transatlantic dynasty’s pain management business worldwide. Infamous for their role in the American opioid epidemic, the Sackler family’s connection to Mundipharma became clear after a Los Angeles Times investigation suggested that sales tactics similar to those used in the United Sates were being employed in countries such as China, Mexico and Brazil.
Nevertheless the deal, in which Mundipharma will acquire 100% ownership over Cinfa from parent company Infarco, has been described as a means of strengthening Mundipharma’s position in the biosimilar market.
The deal will see Mundipharma acquire the rights to pegfilgrastim biosimilar, Pelmeg which received CHMP recommendation for approval on 20th September 2018. The biosimilar is used in treating chemotherapy-induced neutropenia
Alberto Martinez, President and CEO, Mundipharma International Ltd commented: “Our biosimilars platform is a key component of our growth strategy and today’s acquisition is the obvious next step in us ensuring we remain agile and innovative in the biosimilars space.”
As such the acquisition may mark a new turn for the Purdue pharma owning family as they make their move into biosimilars.
Louis Goss
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