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Spectrum Pharmaceuticals, Inc., announced today that it has sold its abbreviated new drug applications (ANDAs) for its injectable generic drugs, ondansetron, carboplatin, fludarabine, and mitoxantrone, to Sagent Pharmaceuticals, Inc
IRVINE, CA, USA | May 09, 2008 | Spectrum Pharmaceuticals, Inc., (NasdaqGM:SPPI):
-- Sale Includes Non-Core Assets:
-- In-House Generated Injectable ANDAs
-- Two Approved ANDAs As Well As Two Filed With the FDA
Spectrum Pharmaceuticals, Inc., (NasdaqGM:SPPI) announced today that it has sold its abbreviated new drug applications (ANDAs) for its injectable generic drugs, ondansetron, carboplatin, fludarabine, and mitoxantrone, to Sagent Pharmaceuticals, Inc.
"The sale of these non-core assets provides additional non-dilutive funding which will be used to further fund the advancement of our late stage clinical programs," said Rajesh C. Shrotriya, MD, Chairman, President and Chief Executive Officer of Spectrum Pharmaceuticals.
"This transaction allows us to quickly add these important near-term products to our pipeline of more than 200 products," said Jeffrey M. Yordon, CEO, founder and chairman of the board of Sagent Pharmaceuticals. "Our extensive global development network will enable us to accelerate commercialization of these products at a comparatively low cost."
About Sagent Pharmaceuticals, Inc.
Sagent Pharmaceuticals, founded in 2006, is a privately held specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific focus on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients. Sagent currently has more than 200 products in development. For more information about Sagent, please visit www.sagentpharma.com.
About Spectrum Pharmaceuticals
We are a biopharmaceutical company that acquires, develops and commercializes a diversified portfolio of drug products, with a focus mainly on oncology and urology. Our strategy is comprised of acquiring and developing a broad and diverse pipeline of late-stage clinical and commercial products with a focus on oncology and urology; establishing a commercial organization for our approved drugs; continuing to build a team with people who have demonstrated skills, passion, commitment and a track record of success in developing drugs and commercialization in our areas of focus; and, leveraging the expertise of partners around the world to assist us in the execution of our strategy. For more information, please visit our website at www.spectrumpharm.com.
SOURCE: Spectrum Pharmaceuticals, Inc. |
