Renaissance Pharma wins Denavir rights in US
Canada based Renaissance Pharma has acquired certain assets and the US rights to manufacture, market and sell Denavir (1% penciclovir cream) from investment funds managed by Deerfield Management Company and New American Therapeutics.
Renaissance with the acquisition of Denavir has established a new subsidiary, Prestium Pharma (Prestium), to commercialize branded products in the US.
Denavir is a topical antiviral used to treat recurrent herpes labialis (cold sores) in adults and children 12 years of age and older.
Renaissance president and CEO Pierre Frechette said, "We are enthusiastic about the acquisition of our first branded product and the creation of Prestium, and look forward to further expanding our product portfolio.''
Prestium general manager John Denman said he is thrilled to join Prestium and have Denavir as Prestium first branded offering.
''Denavir is an important product as it offers patients a proven therapy for the treatment of cold sores, an embarrassing, uncomfortable, and often unpredictable condition," Denman added.
Renaissance Business Development vice president Ray Canole said,"With the acquisition of Denavir, Prestium is off to a great start and we are already at work pursuing additional product acquisitions."