McGUFF PHARMACEUTICALS, INC.
(A California based pharmaceutical manufacturer)
ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa) (“Aspen Holdings”)
and its subsidiaries (collectively “Aspen” or “the Group”)
Aspen Acquires the Rights to Hydroxyprogesterone Caproate Injection (HPC)
McGuff Pharmaceuticals, Inc. is pleased to announce that Aspen Global Incorporated ("AGI"), a wholly owned subsidiary of Aspen Holdings, has entered into an agreement with US-based McGuff Pharmaceuticals Inc., a wholly owned subsidiary of McGuff Company, Inc. to acquire the intellectual property and recently approved Abbreviated New Drug Application for the finished dosage form of Hydroxyprogesterone Caproate Injection ("HPC"), a product indicated for the treatment of certain female cancers and hormonal imbalances. McGuff Pharmaceuticals, Inc. will also manufacture and supply the HPC Injection product to AGI. It is expected that the product will be launched in the United States during 2016.
The transaction will provide McGuff Pharmaceuticals, Inc. with the opportunity to expand U.S. operations capacity to meet future demand for its branded and generic products.
The transaction will provide Aspen with a unique vertical integration opportunity as Aspen currently manufactures the active pharmaceutical ingredient ("API") for HPC. The acquisition is in line with Aspen's stated intent to develop commercial opportunities in the United States which are aligned to the intellectual property available within the Group.
About McGuff Pharmaceuticals, Inc.
McGuff Pharmaceuticals is a US-based, FDA registered manufacturer of investigational and commercial sterile drug products. McGuff has proven expertise in obtaining and maintaining national and international drug approvals.
About McGuff Companies
The McGuff family of companies is veteran owned and privately held. McGuff provides commercial pharmaceuticals, compounded drugs, medical products and contract services used by leading healthcare organizations and professionals.
About Aspen Pharmacare Holdings Limited
Aspen is the largest pharmaceutical company listed on the South African stock exchange, JSE Limited, and is one of the top 20 companies listed on this exchange. Aspen is ranked among the top 10 generic pharmaceutical producers globally as assessed by EvaluatePharma®. The Group has 26 manufacturing facilities at 18 sites on six continents and more than 10,000 employees. Central offices located in Durban, South Africa.
Santa Ana, California
December 2, 2015