http://biz.yahoo.com/prnews/040601/cltu008_1.htm
Alliant Pharmaceuticals Acquires Two New Drugs for ADHD and Completes Private
Placement Financing
Tuesday June 1, 7:15 am ET
ATLANTA, June 1 /PRNewswire/ -- Alliant Pharmaceuticals, Inc. -- an emerging
pediatric specialty pharmaceutical company, announced today that it has
acquired the exclusive U.S. marketing rights to two products for Attention
Deficit Hyperactive Disorder from Mallinckrodt Inc., a business unit of Tyco
Healthcare. Terms of the acquisition agreement were not disclosed.
Mark Pugh, President and CEO of Alliant Pharmaceuticals said, "The acquisition
of these two therapies is a significant milestone for our long- term growth
which will form the basis for our aggressive development and marketing of
products focused in the area of pediatrics and pediatric specialties."
In 2003, the total ADHD market in the U.S. was approximately $1.8 billion and
grew at an average annual growth rate of 20% from 2002 to 2003. The market is
expected to reach $4 billion in the next 5 years. "Our strategy is to acquire
products that will provide solutions to unmet medical needs, in growing
markets, and deliver value to the patient and the physician."
Alliant Pharmaceuticals also announced that it has received funding through a
private equity placement to complete the transaction and build the company's
sales infrastructure. The funding was provided by EJ Financial of Lake Forest,
IL, which provides financing and strategic advice to early stage health care
concerns that display high growth potential.
Alliant Pharmaceuticals, Inc. is a Pediatric Specialty Pharmaceutical company
that was formed to develop and market a portfolio of pharmaceutical products to
pediatricians and pediatric specialty physicians. Alliant Pharmaceutical's
management team and board have over 150 years combined leadership experience in
the pharmaceutical industry. The team includes three former pharmaceutical
company chief executive officers and a chief financial officer. The team has
experience in acquiring, developing and launching prescription pharmaceutical
products. In addition, they have a track record of greatness in delivering top
line sales results and handsomely rewarding employees and shareholders.