Pharmaceutical

Valeant, Sprout announce partnership days after approval of so-called female Viagra

Sprout logo female viagra Valeant, Sprout announce partnership days after approval of so called female ViagraTwo days after Sprout Pharmaceuticals Inc. made history by becoming the first drug company to gain approval for a so-called female Viagra pill, Valeant Pharmaceuticals International Inc. announced that it would be shelling out $1 billion in cash to buy Sprout.

Sprout’s drug flibanserin, which will be sold under the brand name Addyi, is designed to treat low sexual desire in premenopausal women. The drug was approved amid controversy that included skepticism from researchers that the drug actually worked, and women’s advocacy groups that argued drug regulators were more reluctant to approve a sexual enhancement drug for women despite there being several of FDA-approved drugs for men designed to boost sex drive.

FDA advisors harped on side effects that include dizziness and fainting risks, which were heightened when combined with alcohol, and agreed to approve the drug on the grounds that it carry a black box warning of serious risks for patients who drink alcohol while taking the medication and for those with liver problems.

All told, it took Sprout eight years of back-and-forth data collecting to finally win FDA approval.

Valeant was eager to snap up Sprout once drug regulators gave Addyi a nod. “Delivering a first-ever treatment for a commonly reported form of female sexual dysfunction gives us the perfect opportunity to establish a new portfolio of important medications that uniquely impact women,” Valeant chairman and CEO J. Michael Pearson said in a statement. “We applaud the efforts of the Sprout team to address this important area of unmet need and look forward to working with them to bring the benefits of Addyi to additional markets around the world.”

Valeant will acquire Sprout debt-free, and will pay $500 million when the transaction closes during the third quarter of 2015 and pay the remaining $500 million in the first quarter of 2016. The companies said they aim to register for review in other countries.

Source: Law 360