Takeda Pharmaceuticals U.S.A.(TPUSA) has signed a definitive agreement with Caraco Pharmaceutical Laboratories, a wholly-owned subsidiary of Sun Pharmaceutical Industries, to sell its non-Colcrys (colchicine, USP) URL Pharma generic business.
Upon closing the sale, the non-Colcrys assets of URL Pharma will be owned and managed by Caraco.
The deal is subject to customary closing conditions as well as regulatory approvals where ever applicable.
Under the agreement with Caraco, TPUSA will retain Colcrys ownership rights and is exclusively responsible to market and promote Colcrys.
TPUSA president Douglas Cole said the addition of Colcrys has allowed Takeda to become a leader in gout, which is part of strategy to focus on innovative pharmaceuticals.
"URL Pharma has many great assets and Takeda was committed to finding a buyer for the remaining business that would be dedicated to leveraging all that URL Pharma has to offer," Cole added.
Colcrys (colchicine, USP) is a prescription medicine used in adults to treat flares linked with gout when taken at the first sign of a flare, as well as to prevent flares.
