Allergan buys Naurex for $560 million, nabs 2 antidepressants
- Allergan, which agreed to sell its generic drugs business to Israel's Teva on Monday for $40.5 billion, is continuing its growth-by-specialized-acquisition strategy with a $560 million deal to buy Naurex. The deal gives Allergan access to the antidepressants rapastinel (GLYX-13) and NRX-1074—both intravenous NMDA receptor modulators.
- The drugs are being touted by Allergan as having the potential for faster onset of action, along with a more favorable safety and tolerability profile.
- In addition, Allergan will spin out part of the company to create a separate company focused on the platform for discovering drugs that enhance synaptic plasticity.
The deal is structured so that Allergan will pay $460 million when the deal first closes and another $100 million in January 2016. This deal comes just as Allergan has agreed to sell its generic drug division to Teva for $40.5 billion.
Both of the new antidepressants will add to Allergan's existing portfolio fo CNS drugs, and if approved, will be new brand-name drugs to further bolster their brand-name focus. Currently, both drugs are in phase II.
Expect Allergan to continue this method of snapping up more specialized branded products in the wake of the Teva deal.