October 20, 2011
FERRING ACQUIRES CYTOKINE PHARMASCIENCES INC.
10/20/2011 – Ferring has completed the purchase of Cytokine PharmaSciences Inc. (CPSI) and its UK subsidiary Controlled Therapeutics (Scotland) Ltd. (CTS), a global biopharmaceutical company with a particular focus in obstetrics.
Ferring is already well-established in the field of reproductive health and believes that the acquisition of CPSI/CTS will strengthen its position over the next few years. It is Ferring’s second major investment in the therapeutic field in two years, having purchased the global marketing rights for LYSTEDA® (tranexamic acid) for the treatment of heavy menstrual bleeding, in May 2010.
“This acquisition advances our vision to become the global scientific and commercial leader in reproductive health, and perfectly complements our already strong portfolio of obstetrics products including TRACTOCILE® (atosiban) and PABAL® (carbetocin). In addition, the acquisition includes the manufacturing assets for dinoprostone marketed by Forest Laboratories, Inc. as CERVIDIL® in the US and Canada, and by Ferring as PROPESS® elsewhere. This acquisition gives us the opportunity to integrate the product portfolio into Ferring on a global basis and to extend our presence in this important field,” commented Michel Pettigrew, President of the Executive Board and COO.
CTS has also developed a strong pipeline of women’s healthcare products, including the misoprostol vaginal insert which is intended to be marketed in the US and Canada as MISODEL® and in Europe and the rest of the world as MISOPESS®. It is anticipated that the new treatment will be filed for FDA approval in 2012.
It is estimated that there are 130 million babies born globally each year and, depending on the country, that labour induction rates range from 15% to 30% of all births. Treatments for cervical ripening are set to play an increasingly prominent role in the delivery process.