The acquisition of SLI will add to the host of Supernus' drug delivery options for a number of specialty therapeutic areas in which the company has focused on developed technologies to ensure that orally ingested drugs are designed to work optimally.
"Our decision to acquire SLI's product formulation and development business was based on SLI's success and proven track record in developing advanced products such as Adderall XR, Carbatrol, Equetro and Oracea utilising its technology platforms and capabilities," said Jack Khattar, President & CEO of Supernus.
Adderall XR, which treats attention deficit hyperactivity disorder (ADHD), generated $607 million (€499 million) of sales in 2004 and represents around 45 per cent of Shire's revenues.
Supernus, through its purchase of Shire Laboratories, now owns 20 US patents, dating back to 1993. These include patents for Pharmaceutical compositionsincluding ACE/NEP inhibitors and bioavailability enhancers, System for Osmotic Delivery of Pharmaceutically Active Agents, and Osmotic Drug Delivery System
The deal is being funded by New Enterprise Associates, who have invested $17.5 million in Supernus, and OrbiMed Advisors.
Shire originally bought Shire Laboratories, known as Pharmavene, in 1997 for $170 million.