Cadence completes acquisition of IV acetaminophen.Cadence Pharmaceuticals, Inc. (San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA), a hospital-focused biopharmaceutical company, announced that it has completed its previously announced acquisition of the exclusive development and commercialization rights to an intravenous formulation of acetaminophen acetaminophen (əsēt'əmĭn`əfĭn), an analgesic and fever-reducing medicine similar in effect to aspirin. It is an active ingredient in many over-the-counter medicines, including Tylenol and Midol. ("IV APAP APAP Association of Performing Arts Presenters APAP Association of Physician Assistant Programs APAP Action Professionals' Association for the People APAP Associação Portuguesa das Empresas de Publicidade e Comunicação (Portugal) ") in the United States and Canada from Bristol-Myers Squibb following the early termination by the United States Federal Trade Commission of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976. Cadence Pharmaceuticals also previously announced a $53.8 million equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , which was led by Frazier Healthcare Ventures and included Domain Associates, Versant Ventures, Technology Partners, ProQuest Investments, BB Biotech Ventures, CDIB CDIB Certificate of Degree of Indian Blood BioScience Venture Management, and private investors. This equity financing is now complete upon the completion of the IV APAP acquisition from Bristol-Myers Squibb. IV APAP is a proprietary intravenous formulation of acetaminophen. Although no intravenous formulation has ever been available in the United States, other formulations of acetaminophen have been available for over 50 years. Acetaminophen is the most widely used medication for the treatment of pain and fever. IV APAP has been marketed in Europe since 2001. Prior to IV APAP, an intravenous formulation of the acetaminophen prodrug prodrug /pro·drug/ (-drug) a compound that, on administration, must undergo chemical conversion by metabolic processes before becoming an active pharmacological agent; a precursor of a drug. , propacetamol, was available in Europe since 1984. Cadence is focused on the development and commercialization of therapeutics utilized primarily in the hospital setting. The business of Cadence is driven by in-licensing and acquisition of late-stage development compounds and commercial-stage drugs. Cadence Pharmaceuticals, Inc., +1-858-436-1400 www.cadencepharm.com |
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