Pharmaceutical company ADVANZ PHARMA Corp (TSX:ADVZ) revealed on Monday the completion of the acquisition of the global rights to two established medicines, Salagen (pilocarpine hydrochloride) and Panretin (alitretinoin), from Eisai Inc.

Under the terms of the agreement, Eisai Inc will receive a cash payment of USD30m, plus approximately USD3.3m for purchased inventory and related prepayments from ADVANZ PHARMA, in return for the global rights to Salagen tablets (excluding Japan) and for the global rights to Panretin gel.

Salagen is indicated for the treatment of symptoms of dry mouth from salivary gland hypofunction caused by radiotherapy for cancer of the head and neck and the treatment of symptoms of dry mouth in patients with Sjogren's Syndrome, said the company.

Panretin is indicated for the topical treatment of cutaneous lesions in patients with AIDS-related Kaposi's sarcoma (KS). Panretin gel is not indicated when systemic anti-KS therapy is required. There is no experience to date using Panretin gel with systemic anti-KS treatment, the company added.

In 2018, Salagen and Panretin collectively generated approximately USD13m in revenue in the territories where ADVANZ PHARMA will hold the rights.