Tonix Acquires Two FDA-Approved, Marketed Migraine Products From Upsher-Smith Laboratories
Portfolio Pulse from Nabaparna Bhattacharya
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) has acquired two FDA-approved migraine products, Zembrace SymTouch and Tosymra, from Upsher-Smith Laboratories for about $25 million. The acquisition is expected to enhance Tonix's commercial capabilities and infrastructure. These products collectively generated sales of approximately $23 million in 2022. TNXP shares are trading higher by 2.04% to $1.6123.
July 03, 2023 | 2:56 pm
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POSITIVE IMPACT
Tonix's acquisition of two FDA-approved migraine products is expected to enhance its commercial capabilities and infrastructure. The company's shares are trading higher following the news.
The acquisition of these products, which generated sales of approximately $23 million in 2022, is a strategic move for Tonix. It not only expands the company's product portfolio but also builds its commercial capabilities and infrastructure. This positive development is reflected in the rise of the company's shares.
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IMPORTANCE 80
RELEVANCE 100