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News today that the previous owners of the intellectual property that spawned the product we know as Rhofade, have purchased the rights to buy it back from Allergan. So those responsible for creating the company that originally created the oxymetazoline based topical, and then sold it to Allergan in 2011 are now purchasing the product back again.
The deal is worth $65m, and will see Aclaris become the owners of Rhofade, its patents and worldwide distribution. Another unnamed dermatology product is also included in the transfer.
Rhofade has been available since 2017 and had in general received good reviews online. The article claims that the last of the patents protecting Rhofade will only expire in 2035.
Rosacea Market is busy
Along with the possible sale of Galderma and the sale of Finacea to Leo Pharma, there is certainly a lot happening in the rosacea market.
Given that Rhofade appears to be a successful product the question remains as to why Allergan no longer wants to keep Rhofade in its extensive product portfolio.
Press Release
Aclaris Therapeutics to Acquire Worldwide Rights to RHOFADE from Allergan
WAYNE, Pa., Oct. 15, 2018 (GLOBE NEWSWIRE) — Aclaris Therapeutics, Inc. (NASDAQ:ACRS), a dermatologist-led biopharmaceutical company focused on identifying, developing, and commercializing innovative therapies to address significant unmet patient needs in aesthetic and medical dermatology and immunology, today announced it has entered into a definitive asset purchase agreement with Allergan Sales, LLC to acquire worldwide rights to RHOFADE® (oxymetazoline hydrochloride) cream, 1% and additional intellectual property.
The acquisition includes an exclusive license to certain intellectual property for RHOFADE, which is approved for the topical treatment of persistent facial erythema (redness) associated with rosacea in adults.
This transaction, which is subject to customary closing conditions, including certain governmental regulatory clearances, is expected to close in the fourth quarter of 2018. Allergan has agreed to provide support to Aclaris to allow for a smooth transition of RHOFADE.
Why would Allergan want to sell Rhofade???
Maybe because the price was right? It does beg the question as to why they would get the drug all the way to profitable and then sell it.