- IGI Laboratories (IG -6.5%) acquires three currently marketed injectable products, Fortaz, Zinacef and Zantac, from Concordia Pharmaceuticals for $10M in cash.
- Fortaz (ceftazidime) is a broad spectrum beta-lactam antibiotic indicated for the treatment of a range of bacterial infections.
- Zinacef (cefuroxime sodium) is a broad spectrum cephalosporin antibiotic.
- Zantac Injection (ranitidine hydrochloride) is indicated for certain hospitalized patients with pathological hypersecretory conditions or intractable duodenal ulcers or for patients who cannot take an oral medication.
- According to IMS, the U.S. market for the products is ~$26M.