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Pragma Pharmaceuticals, LLC
Drug Names(s): Keftab, Cephalexin
Keflex is a first generation cephalosporin. Like other members of this class, Keflex exhibits good activity against methicillin-sensitive Staphyloccus aureus and Streptococci; moderate activity against enteric Gram-(-) rods; and poor activity against Enterococci, anaerobes, methicillin-resistant Staphylococcus aureus, and Pseudomonas.
In 2010, approximately 22 million US prescriptions for generic Keflex were written, placing it among the top 50 drugs by US prescription volume.
Deal Structure: In July 2004, Advancis Pharmaceutical announced that it had acquired the U.S. rights to the Keflex brand of cephalexin from Eli Lilly and Company (Lilly). Under the terms of the agreement, Advancis paid Lilly $11 million for the exclusive rights to manufacture, market and sell Keflex in the United States. The Keflex 750 mg product (and the potential Keflex 333 mg product, should Advancis decide to commercialize it) is subject to royalties to Lilly.
In November 2007, Middlebrook entered into a series of agreements with Deerfield Management, which provided for a potential capital raise of up to $10 million in cash. The financing consisted of two potential closings, with the first closing occurring upon the signing of the agreements (for $7.5 million in gross proceeds, less $0.5 million in transaction expenses) and the second closing (for an additional $2.5 million in gross proceeds) occurring at Middlebrook's option, contingent upon FDA approval of its New Drug Application for the...See full deal structure in Biomedtracker
Partners: Auriga Laboratories, Inc. Eli Lilly & Company
Pink Sheet Lilly's cefalexin
Pink Sheet Lilly's Keflex patent
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