BRISTOL, Tenn., March 2 /PRNewswire-FirstCall/ -- King Pharmaceuticals,
Inc. (NYSE: KG) announced today that it has acquired from Allerex Laboratory
Ltd. the exclusive rights to market and sell EpiPen(R) (epinephrine injection)
in Canada. EpiPen(R) is an auto-injector that administers epinephrine, the
definitive emergency treatment for severe anaphylaxis.
King is the leading manufacturer of auto-injectors for the self-
administration of injectable drugs, including EpiPen(R). Approximately 2% of
the population in Canada is estimated to have allergic sensitivities placing
them at risk for anaphylaxis, and that number is increasing, especially with
respect to children. Net sales of EpiPen(R) in Canada totaled approximately
$21.2 million in 2004.
"Thousands of adults and children benefit from EpiPen(R), the number one
prescribed self-administered treatment for life-threatening anaphylaxis," said
Steve Andrzejewski, Chief Commercial Officer of King Pharmaceuticals. "We are
excited to expand our existing EpiPen(R) franchise to include the rights to
market and sell this emergency self-administered product in Canada. This is
part of our strategy to pursue commercial opportunities for our branded
prescription pharmaceutical products in Canada and throughout the world."
Anaphylaxis is a severe allergic reaction that some individuals experience
in response to certain foods, including peanuts, medications, insect venom or
latex. Anaphylaxis can be fatal within minutes if untreated. EpiPen(R), when
administered at the first sign of anaphylaxis, can provide individuals the
time necessary to obtain more definitive emergency treatment.
King will pay Allerex $25 million plus an earn-out based on sales of
EpiPen(R) in Canada. The worldwide rights to the distribution of EpiPen(R)
are licensed exclusively to Dey, L.P. of Napa, California. Allerex serves as
Dey's exclusive EpiPen(R) sub-distributor in Canada.
About EpiPen(R)
EpiPen(R) is an auto-injector that administers epinephrine-and epinephrine
is the definitive emergency treatment for severe allergic reactions. These
reactions, called anaphylaxis, can become fatal within minutes if untreated.
How Supplied: EpiPen(R) and EpiPen(R) Jr. auto-injectors are available in
single cartons. Further information can be found at http://www.epipen.ca.
EpiPen(R) (epinephrine) Auto-Injector 0.3/0.15 mg is indicated for
emergency treatment of allergic reactions (anaphylaxis). Such emergencies may
occur spontaneously or from insect stings, bites, foods, drugs, or other
allergens, as well as idiopathic or exercise induced anaphylaxis. EpiPen(R)
should be used with extreme caution in people who have heart disease. Side
effects of EpiPen(R) may include fast or irregular heartbeat, nausea, and
breathing difficulty. Certain side effects may be increased if EpiPen(R) is
used while taking tricyclic antidepressants or monoamine oxidase inhibitors.
The EpiPen(R) and EpiPen(R) Jr. are designed as emergency supportive
therapy only and are not a replacement or substitute for immediate medical or
hospital care.
About King Pharmaceuticals
King, headquartered in Bristol, Tennessee, is a vertically integrated
branded pharmaceutical company. King, an S&P 500 Index company, seeks to
capitalize on opportunities in the pharmaceutical industry through the
development, including through in-licensing arrangements and acquisitions, of
novel branded prescription pharmaceutical products in attractive markets and
the strategic acquisition of branded products that can benefit from focused
promotion and marketing and product life-cycle management.
SOURCE King Pharmaceuticals, Inc.
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Related links:
http://www.kingpharm.com
Company News On-Call:
http://www.prnewswire.com/comp/120319.html
CONTACT:
James E. Green, Executive Vice President,
Corporate Affairs, +1-423-989-8125, or David E. Robinson, Senior
Director, Corporate Affairs, +1-423-989-7045, both of King
Pharmaceuticals, Inc.
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