Wednesday, May 20, 2009
Victory Pharma Acquired By Sciele Pharma
San Diego-based specialty pharmaceuticals firm Victory Pharma has been acquired by Atlanta-based Sciele Pharma, Sciele said this week. According to Schiele, it will pay $150M to acquire Victory Pharma, which is focused on acquiring, developing, and marketing products to treat pain. Victory Pharma has 182 employees, and had net sales of $57M in 2008, Sciele said. Victory's lead product is NAPRELAN, a sustained release formulation of non-steroidal anti-inflammatory drug (NSAID) naproxen sodium. Victory was advised by Cowen & Company LLC and Pillsbury Winthrop Shaw Pittman LLP; Schiele was advised by UBS Investment Bank and Paul, Hastings, Janofsky & Walker. Sciele Pharma is owned by Japanese firm Shionogi & Co., Ltd.