Spectrum sells off generic drugs

Specturm Pharmaceuticals has sold its abbreviated NDAs for its injectable generic drugs, ondansetron, carboplatin, fludarabine, and mitoxantrone, to Sagent Pharmaceuticals. Sagent, which made our list of the top 20 VC deals of 2007, brings finished pharmaceutical therapies onto the U.S. market and is focused on injectable products. "The sale of these non-core assets provides additional non-dilutive funding which will be used to further fund the advancement of our late stage clinical programs," said Rajesh C. Shrotriya, Spectrum's CEO. Spectrum has 12 drug candidates in the clinic and three more in preclinical development.

- check out Spectrum's release

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