Renaissance and GlaxoSmithKline Agree to a Transfer of Nine Products
Renaissance and GlaxoSmithKline Agree to a Transfer of Nine Products
MONTREAL & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- Renaissance Acquisition Holdings, LLC ("Renaissance"), a RoundTable Healthcare Partners ("RoundTable") portfolio company, and GlaxoSmithKline (ISE: GSK) (NYS: GSK) announced today that they have entered into an agreement giving Renaissance the rights in the USA to manufacture, market and sell six dermatology and three anti-viral products from GSK.
The products from GSK and Stiefel, a GSK company, which will be marketed through Renaissance's branded division Prestium Pharma ("Prestium"), include:
Evoclin® (clindamycin phosphate) Foam,1%
Extina® (ketoconazole) Foam,2%
Luxiq® (betamethasone valerate) Foam, 0.12%
Olux® (clobetasol propionate) Foam, 0.05%
Olux-E® (clobetasol propionate) Foam, 0.05%
Vusion® (miconazole nitrate 0.25%, zinc oxide 15% and white petrolatum 81.35%) Ointment
Zovirax® (acyclovir) Capsules
Zovirax® (acyclovir) Tablets
Zovirax® (acyclovir) Suspension
Pierre Fréchette, President and CEO of Renaissance, stated, "This transaction represents a significant milestone for Renaissance, and is in-line with our strategy of acquiring niche products that we can both manufacture within our internal network and market through our strong commercial group. The RoundTable team was instrumental in helping to source, diligence and complete such an important acquisition."
Simon Jose, Stiefel President, said, "This agreement allows US patients to continue to have access to treatments they value and allows the Stiefel US Team to focus on growth and development of new treatments within our core dermatology portfolio."
John Denman, General Manager of Prestium, commented, "We are excited to add these mature specialty brands to Prestium's growing portfolio, and look forward to continuing to supply such important products to our customers and to patients across the country."
About Renaissance Acquisition Holdings
Renaissance Acquisition Holdings focuses on two pharmaceutical industry segments in the United States and Canada: 1) contract development and manufacturing, and 2) commercialization of branded and generic prescription products. For more information, visit www.RenaissanceAH.com.
About Prestium Pharma, Inc.
Prestium Pharma, a subsidiary of Renaissance Acquisition Holdings, focuses on acquiring, licensing and selling in-market branded prescription products, including mature brands with or without generic competition. More information about Prestium can be found at www.PrestiumPharma.com.
About GSK
GlaxoSmithKline - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information, please visit www.gsk.com.
About Stiefel, a GSK company
Stiefel, a GSK company, is committed to advancing Dermatology and skin science around the world in order to help people better achieve healthier skin. Stiefel's dedication to innovation, along with its focus on pharmaceutical and over-the-counter Dermatology products, has established Stiefel as a world leader in the skin health industry. To learn more about Stiefel, visit www.stiefel.com.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling $400 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.
Prestium
John Denman, 267-685-0340
or
GlaxoSmithKline US Media
Robin Gaitens, 919-483-2678
KEYWORDS: United States North America Canada Illinois North Carolina Pennsylvania
INDUSTRY KEYWORDS:
The article Renaissance and GlaxoSmithKline Agree to a Transfer of Nine Products originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
