PharmaTher Announces Sale of Ketamine ANDA with Potential to Generate Over US$25 Million in Milestone and Profit-Sharing Payments

Core Insights - PharmaTher Holdings Ltd. has entered into a definitive Asset Purchase Agreement for the sale of its Abbreviated New Drug Application for Ketamine Hydrochloride Injection to a global pharmaceutical company specializing in sterile injectables and complex generics [1][3] - The transaction is seen as a validation of the significant value in PharmaTher's ketamine assets and allows the company to share in the future sales growth of the ketamine market while advancing its proprietary next-generation therapies [2][5] Transaction Details - PharmaTher will receive a confidential upfront cash payment at closing, milestone payments based on cumulative sales thresholds, and ongoing profit-sharing for seven years post-first commercial sale, with potential total consideration exceeding US$25 million [3] - The Buyer is a credible, FDA-approved manufacturer with a strong track record in securing ANDA approvals and has a portfolio of over 40 approved ANDAs in the U.S. [4] Strategic Implications - The Agreement enables PharmaTher to maintain exposure to the global ketamine market while focusing on advancing next-generation ketamine programs, including long-acting injectables and novel delivery methods for various medical indications [5] - The closing of the Agreement is subject to customary conditions, with an expected near-term effective date [6]