Actavis plc entered into an agreement with Mayne Pharma for the divestment of U.S. rights to Doryx (acne) and related assets. Actavis will receive $50 million on completion of the deal. The deal is expected to close by the end of this month. Meanwhile, with the divestment of this product, Actavis will be able to focus on one of its core therapeutic areas like the expanding dermatology portfolio, which will become a part of the company’s portfolio once the Allergan Inc.acquisition goes through later this year.
This is the second divestment agreement announced by Actavis this month. Last week, the company struck a deal with AstraZeneca plc under which AstraZeneca will acquire rights to Actavis’ branded respiratory business in the U.S. and Canada.