AstraZeneca to Acquire Omthera Pharmaceuticals
AstraZeneca has agreed to acquire Omthera Pharmaceuticals, a company focused on dyslipidemia treatments. The deal aims to enhance AstraZeneca's cardiovascular portfolio with a novel omega-3 therapy.
AstraZeneca announced on Tuesday, May 28, 2013, that it has entered into an agreement to acquire Omthera Pharmaceuticals. The acquisition is intended to strengthen AstraZeneca's existing cardiovascular and metabolic disease portfolio.
Omthera's lead investigational product, Epanova, is designed for patients with very high triglyceride levels. This novel omega-3 free fatty acid composition has demonstrated significant increases in eicosapentaenoic acid and docosahexaenoic acid levels in clinical studies. It is also designed for convenient once-daily dosing.
The transaction is valued at approximately $323 million in cash, with potential additional payments of up to approximately $120 million in contingent value rights based on development and sales milestones for Epanova. This brings the total potential acquisition cost to approximately $443 million.
Omthera has completed Phase III clinical studies for Epanova, showing efficacy in lowering triglycerides and improving other lipid parameters. The company expects to file a new drug application with the U.S. Food and Drug Administration (FDA) for severe hypertriglyceridemia in mid-2013. AstraZeneca plans further regulatory filings and a large-scale cardiovascular outcomes trial.