Avanir inks $29M deal to buy Alamo

Avanir Pharmaceuticals has agreed to buy Alamo Pharmaceuticals for $29 million up front and another $40 million in scheduled sales milestones. Avanir gains FazaClo, a marketed schizophrenia drug, and the opportunity to build on Alamo's sales operations with new products of its own. "With this acquisition, we significantly enhance our portfolio by adding a marketed CNS product," said Avanir CEO Eric K. Brandt. "In addition, Alamo's organization will augment our commercialization capabilities by adding an experienced sales force calling on a base of physicians that overlap with our targeted physicians for Neurodex, which is under priority review at the U.S. Food and Drug Administration for the treatment of Involuntary Emotional Expression Disorder."

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