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Victory Pharma Sale Is Off, Potential Buyer Says

Japanese pharmaceutical company Shionogi has scrapped its plans to buy Victory Pharmaceuticals, a privately held San Diego company specializing in pain treatments.

Sciele Pharma, a Shionogi subsidiary, said in May it would buy Victory for $150 million.

In a statement, Shionogi said its cancellation was due to “the occurrence of an unforeseen development that occurred after the agreement was signed.”

Shionogi did not elaborate, and a call made to Victory was not immediately returned.

It was unclear whether a June 30 FDA advisory committee move to recommend the removal of combination prescription and over-the-counter products containing acetaminophen had anything to do with the recent announcement.

Victory markets two products containing acetaminophen: Dolgic for tension headaches and Xodol for pain. Its Dolgic Plus product contains a high dose of acetaminophen: 750 milligrams. Xodol is a narcotic pain reliever that contains acetaminophen and hydrocodone, ingredients of Vicodin.

The San Diego company recently submitted an application to the FDA for its lead drug, MGX006, for treating nausea and vomiting. It said it expects to launch the product by next summer, pending approval.

, Heather Chambers

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