Allergan, Esprit, Indevus deal

AGN will acquire Esprit for $370 million in cash. Esprit markets Sanctura trospium to treat overactive bladder (OAB) and Estrasorb topical 17beta estradiol emulsion to reduce moderate to severe vasomotor symptoms in menopausal women. Esprit has U.S. rights to Sanctura and Sanctura XR, a once-daily formulation approved in August, from IDEV. Esprit has North American rights to Estrasorb from Novavax Inc. (NVAX, Rockville, Md.). Esprit's 2007 revenue estimate for the two drugs is $40-$48 million. The acquisition is expected to close by the end of October.

AGN said the move builds its genitourinary portfolio. The company plans to retain and expand Esprit's 160-person sales organization and create a genitourinary division. AGN's Botox botulinum toxin is in Phase II and Phase III trials to treat idiopathic and neurogenic OAB, and Phase II testing to treat benign prostatic hyperplasia (BPH). ...