Eton Pharmaceuticals to acquire Increlex from Ipsen

Eton Pharmaceuticals (ETON) announced that it has entered into an asset purchase agreement to acquire Increlex from Ipsen S.A. (IPSEY). The acquisition is expected to close near year-end 2024. Increlex is a biologic product used to treat children and adolescents from 2- to 18-years-old who suffer from severe primary insulin-like growth factor 1 deficiency because their bodies do not make enough insulin-like growth factor 1. The medicine is approved in 40 territories, including the United States and the European Union. It is estimated that approximately 200 patients in the United States and 900-1,000 patients in Europe live with SPIGFD. Increlex is the only treatment approved by the U.S. Food and Drug Administration or European Medicines Agency for SPIGFD. Post closing, Eton will immediately commercialize the product in the U.S. without disruption to patient supply. Outside the U.S., Ipsen will continue distributing the product during a six-month transition period to ensure no disruption to patient supply, after which the commercialization will be continued by Eton. The transaction will be financed by Eton’s cash on hand and an expansion of the Company’s existing credit facility with SWK Holdings. Ipsen reported global sales for Increlex of EUR 17.3 million in 2023.