Sales & Marketing
Eagle Pharmaceuticals completes $104 million acquisition of Acacia Pharma
The acquisition will save the Cambridge company from the threat of insolvency
Acacia Pharma shareholders have voted to accept a $104 million rescue deal by New Hearsey-based Eagle Pharmaceuticals. The move adds two US FDA approved new chemical entities, with strong patent protection, to Eagle’s arsenal.
The acquisition additionally saves the Cambridge company, Acacia, from the threat of insolvency.
“The closing of this transaction is a great achievement for Eagle, both strategically and financially. The addition of the two products expands our presence in the acute care space, and we believe that our highly capable hospital-based salesforce will have great success commercialising these assets. We believe BARHEMSYS and BY FAVO represent two compelling opportunities, as both address significant unmet clinical needs,” stated Scott Tarriff, President and CEO of Eagle Pharmaceuticals.
Scott Tarriff, President and CEO of Eagle Pharmaceuticals, led the rescue deal after Acacia shared that it had to find an estimated $115 million in order to break even by early in the financial year of 2025. In spite of the potential of its pipeline, the company stated it had been hit significantly by COVID-19- triggered cancellations of surgery at hospitals.
“The acquisition of Acacia Pharma should not only help improve the care of patients undergoing medical treatments, but also solidify our leadership position in the hospital and oncology space, and bring longterm value to our shareholders,” concluded Tarriff.
The two FDA-approved products of Acacia are BARHEMSYS and BY FAVO. BARHEMSYS is the first and only antiemetic approved by the FDA for rescue treatment of postoperative nausea and vomiting despite prophylaxis (PONV). It is also approved for the treatment of PONV in patients who have not received prophylaxis, and for the prevention of PONV.
Eagle is a fully integrated pharmaceutical company with research and development, clinical manufacturing, and commercial expertise. Its oncology and CNS/metabolic critical care pipeline includes product candidates with the potential to address underserved therapeutic areas across multiple disease states.