Northern Ireland-based pharmaceutical company Galen said today it has acquired the US rights to two drugs from Bristol-Myers Squibb for $40 million.
Duricef, an antibiotic, and Moisturel, a skin cream, generated combined 2001 sales in the United States of about $17 million, with gross margins of 85 per cent.
Galen chief executive Mr Roger Boissonneault said: "The addition of these two products to our portfolio will help to broaden our offering in the dermatologist's office".
He said the deal demonstrates Galen’s commitment to invest in our pharmaceutical products business while it continues to rationalise non-core operations.