Press Releases
July 25, 2005
Xanodyne Pharmaceuticals Completes Acquisition of aaiPharma Products
For Immediate Release
Contact:
Susan McDonald
Justice & Young Public Relations
smcdonald@jypublicrelations.com
513-388-4700 ext. 3014
Florence, KY – July 25, 2005 – Xanodyne Pharmaceuticals, Inc., a privately held, specialty pharmaceutical company focusing on innovative products in the therapeutic areas of women's health and pain management, today announced that it completed the transaction to acquire most of the assets of aaiPharma’s pharmaceuticals division. The deal terms included $209.25 million cash and additional non-cash consideration.
“This is a major milestone in the history of our organization,” said William Nuerge, CEO of Xanodyne. “We are well positioned to take the company forward and continue to build on the past successes of Xanodyne. The acquisition of these aaiPharma assets expands our product offering significantly, and provides the critical mass for further growth and expansion.”
The acquired products include the Darvon and Darvocet brand families, Oramorph SR, Methadone Injection, Duraclon, Roxicodone, and Roxanol, as well as four new products in development. Xanodyne already has a solid presence in the women’s health arena with its currently marketed prenatal vitamins product line, as well as three new women’s health products in development. The combined business will have pro-forma 2005 revenues of approximately $100 million, and will create a new force in the specialty pharmaceuticals sector.
About Xanodyne
Xanodyne Pharmaceuticals, Inc. is a privately owned, fully integrated, branded specialty pharmaceutical company focusing on innovative products in the therapeutic areas of women's health and pain management. The company, located in the greater Cincinnati area, has a nationwide sales force and currently markets numerous pharmaceutical products. More information regarding Xanodyne can be accessed at www.xanodyne.com.