ACETO Subsidiary Buys Three FDA-Approved Ophthalmic ANDAs From Nexus

(RTTNews) - ACETO Corp (ACET) on Tuesday said that Rising Pharmaceuticals Inc, its generic finished dosage form subsidiary, has completed the purchase of three ANDAs for the products Ciprofloxacin Ophthalmic Solution 3%, Levofloxacin Ophthalmic Solution 0.5%, and Diclofenac Sodium Ophthalmic Solution 0.1% from Nexus Pharmaceuticals.

Rising began marketing the products under a license from Nexus in June 2008 and holds robust shares in each market. This transaction enables Rising to gain full ownership of the ANDAs as well as increased margins.

Ciprofloxacin Ophthalmic Solution, 3% (Generic version of Alcon's CILOXAN) is an antibiotic with a $13.2 million market. Levofloxacin Ophthalmic Solution, 0.5% (Generic version of Santen's QUIXIN) is also an antibiotic with a $1.0 million market, and Diclofenac Sodium Ophthalmic Solution 0.1% (Generic version of Novartis's VOLTAREN) is an NSAID (Non-Steroidal Anti Inflammatory Drug) with a $2.4 million market.