Vernalis strengthens Parkinson's franchise

Vernalis announced today that it has spent $23 million to purchase the Parkinson's drug Apokyn from Mylan. The treatment, which earned orphan status from the FDA, was approved in 2004 and is likely to profit $7 million this coming year.

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ALSO: Vernalis has entered a deal with Britannia Pharmaceuticals to find new formulations of another Parkinson's treatment, apomorphine. The companies are hoping to develop the drug into both an injection and a nasal powder. Release