Women's Health Weekly
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Business Update
First Horizon to acquire rights to Fortamet and Altoprev
March 31st, 2005
First Horizon Pharmaceutical Corp. (FHRX), a specialty-pharmaceutical company, announced that it has entered into a definitive agreement to acquire U.S. rights to the type 2 diabetes prescription medication Fortamet (metformin hydrochloride) and the cholesterol medication Altoprev (lovastatin) from Andrx Corp. (Andrx). The company has also entered into a long-term manufacturing and supply agreement with Andrx. Fortamet is a patented, once-a-day treatment for type 2 diabetes, and competes in the approximately $6 billion oral diabetes market (based on prescriptions according to IMS Health's National Prescription Audit Plus data). Fortamet was launched...
Source: Women's Health Weekly (2005-03-31)
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