Pfizer to acquire InnoPharma

Pfizer has agreed to acquire InnoPharma, a privately held pharmaceutical development company, for $225 million, with up to $135 million in contingent milestone payments.

The transaction is expected to close during the third quarter.

InnoPharma’s current portfolio includes 10 FDA-approved generic products. The company also has a pipeline of 19 products filed with FDA and more than 30 injectable and ophthalmic products under development.

InnoPharma seeks to develop novel formulations of existing drugs, including hard-to-make products, such as those that require complex manufacturing capabilities or have bio-equivalency challenges, in areas such as cancer and central nervous disorders. The company has developed capabilities in complex injectable delivery forms, including pens and depot injectibles, and is working to leverage this expertise to expand into new dosage forms, including oral suspensions and nasal forms.