Clinigen Divests Global Rights to Four Cancer Support Medications
Company will focus on its managed access services.
Clinigen Limited, a pharmaceutical services company, has completed the divestment of four cancer supportive care products from its brands portfolio to CNX Therapeutics, a specialty pharma company that focuses on improving access to medicines.
Per the terms of the deal, Clinigen will divest four medicines; Cardioxane, Savene, Totect, and Ethyol, all of which help mitigate the side effects patients may experience when treated with other cancer therapies.
The divestment is the next step for Clinigen in its efforts to increase its focus on the areas of the pharma services market where it has a growing and sustainable competitive advantage, increasing its exposure to high value, niche services and divesting units and products which no longer support that goal.
“This divestment marks another milestone in Clinigen’s continued strategic evolution towards providing high-value services to the pharmaceutical and biotech sectors,” says Jerome Charton, Clinigen’s CEO. “These medicines have been integral to Clinigen, but as we refocus our efforts, it is crucial to align our offerings with our core strategy, and I’m delighted that CNX Therapeutics will be acquiring these brands.”
