Actavis plc will divest the U.S. rights to Doryx acne treatment and related assets to Mayne Pharma for about $50 million, the company said. The transaction is expected to close by the end of February. Actavis will continue to package, distribute and actively promote the product for a transition period until May 2 following the close of the transaction, according to a press release.
"Actavis currently licenses and distributes Doryx in the U.S. as part of our legacy Warner Chilcott partnership with Mayne, which is eligible to expire at the end of 2015," said William Meury, EVP Commercial, North American Brands. "By agreeing to return the product to Mayne now, we receive value for the asset and, following a brief transition period, will enable our sales and marketing teams to focus their time and attention on supporting the expanded, industry-leading Dermatology portfolio that will be part of our combined company following the acquisition of Allergan later this year. We are committed to investing in our expanded dermatology portfolio and in our R&D pipeline in this important category, and look forward to continuing to grow our business within Dermatology."