Esprit Pharma acquires Metagen Pharmaceuticals, subsidiaries

By Jennifer Chiou

New York, Sept. 16 - Esprit Pharma, Inc. said it acquired all outstanding shares of Metagen Pharmaceuticals, Inc. and subsidiaries Star Pharmaceuticals and Stellar Pharmacal.

The company issued its series A preferred stock in exchange for the Metagen, Star and Stellar shares. Terms of the acquisition were not disclosed.

"The main product of the acquired companies is Prosed EC, a urinary analgesic/antispasmodic/antiseptic," Esprit chairman and chief executive officer John T. Spitznagel said in a news release.

"Additionally, there are other products in Star's portfolio including URO KP Neutral, indicated for the prevention of kidney stones, plus hormone replacement products in late-stage development."

Esprit had previously acquired Sanctura, co-promoted with Indevus Pharmaceuticals, and Proquin XR.

Metagen is a pharmaceutical company with headquarters in Pompano Beach, Fla.

East Brunswick, N.J.-based Esprit Pharma is a pharmaceutical company focused on specialty therapeutics in urology obstetrics.

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