Upsher-Smith Divests Three Women’s Health Products
Upsher-Smith Laboratories, Inc., a pharmaceutical company based in Maple Grove, sold three of its women’s health products to New Jersey-based Vertical Pharmaceuticals for an undisclosed sum on Monday.
Upsher-Smith is a private company founded in 1919 that focuses on treatments for diseases of the central nervous system. According to its website, its women’s health product line is a core part of its business with medical products for prenatal care, pregnancy, general health, and menopause.
The three products that were sold are Divigel, an estradiol gel that is used to treat moderate to severe hot flashes due to menopause; Nexa Plus Rx, a prenatal vitamin; and Provella, a probiotic dietary supplement. According to a company representative the products included in the transaction represent a “minority portion” of Upsher-Smith’s overall sales.
“We are pleased to reach this agreement with Vertical Pharmaceuticals, a company that is strategically focused on women’s health,” Upsher-Smith President and CEO Mark Evenstad said in a statement. “We are excited to drive our base business forward and pursue our strategic objective of providing therapies that empower people living with [central nervous system] conditions to lead healthy, productive lives through our commercial and developmental efforts.”
Upsher-Smith also recently received approval from the U.S. Food and Drug Administration for a new antiepileptic drug called Qudexy XR. In 2012, the company bought a British biotech firm called Proximagen Group for $554.7 million.
In addition to Maple Grove, Upsher-Smith has an office in Morristown, New Jersey, and manufacturing facilities in Plymouth and Denver.