Eton Sells Hospital Products to Dr. Reddy's for Up to $50 Million
24 June 2022 - 10:20PM
Dow Jones News
By Colin Kellaher
Eton Pharmaceuticals Inc. on Friday said it has sold its
hospital products to India's Dr. Reddy's Laboratories Ltd. for up
to $50 million, as Eton pivots to exclusively focus on products
that treat rare diseases.
The Deer Park, Ill., company received about $5 million at
closing of the sale of its Biorphen, Rezipres and cysteine
hydrochloride products, it said, adding that it is eligible to
receive up to an additional $45 million based on the achievement of
certain milestones.
The pharmaceutical company's commercial activities would now
focus solely on rare-disease products with a portfolio of four
candidates, two of which are currently FDA-approved commercial
products, it said.
Trading in shares of Eton, which closed Thursday at $2.91, was
halted premarket on Friday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 24, 2022 08:05 ET (12:05 GMT)
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