Victory Pharma acquires marketing rights for Naprelan

May 4 2007

Victory Pharma, Inc. has announced that it has acquired the exclusive US marketing rights to its leading marketed pain product, Naprelan.

Under the finalized agreement, Victory paid total consideration of $8.75 million to Hi-Tech Pharmacal Co., Inc. and Stat-Trade, Inc.

"The sales of Naprelan have more than doubled since Victory started promoting the product through its dedicated sales force in January 2007," said Mike Goolsby, Vice President of Sales, Victory Pharma. "I have never experienced such a rapid rate of growth. The Naprelan(R) acquisition represents a significant milestone for Victory since it helps to secure our position in the large and unsatisfied non-steroidal anti-inflammatory market."

Naprelan(R), which is patent protected, is currently the only once-a-day branded formulation of naproxen sodium. This formulation reduces GI side effects and significantly improves dosing compliance for patients suffering from pain.

In connection with the acquisition of Naprelan(R), Victory also announced the company has secured a manufacturing and supply agreement with Elan Pharma International Ltd, a subsidiary of Elan Corporation plc., the developer of Naprelan(R). Elan will continue to manufacture Naprelan(R) at their GMP facility in Athlone, Ireland. "We look forward to strengthening our relationship with Elan as we move forward," commented Matt Heck, President, Victory Pharma.