Clinigen Group plc (LSE: CLIN) has acquired Cardioxane from healthcare product company Novartis Corp. (NYSE: NVS) for $33 million in cash.
Cardioxane is used to treat breast cancer patients.
The purchase price will be paid in two tranches.
Clinigen is a specialty pharmaceutical company with offices in the U.K., U.S. and Japan.
The medication will be added to Clinigen’s specialty pharmaceuticals business. The business already includes Foscavir, an anti-viral medication for leukemia patients, which Clinigen acquired from AstraZeneca in March 2010.
Other recent pharmaceutical deals include Valeant Pharmaceuticals International Inc.'s purchase of Obagi Medical Products Inc., Sorrento Therapeutics Inc.'s agreement to buy Igdrasol and Valeant's acquisition of Targretin, a medication used to treat skin conditions.