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DRI Healthcare Trust Announces Acquisition of Royalty on Oracea®
DRI Healthcare Trust Announces Acquisition of Royalty on Oracea® Canada Ne...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Announces Acquisition of Royalty on Oracea®\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n -\n \n \n Oracea\n \n \n ®\n \n \n is the only branded oral prescription medication indicated for papulopustular rosacea\n \n \n -\n \n \n \n \n TORONTO\n \n ,\n \n Sept. 30, 2021\n \n /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (\"DRI\" or \"the Trust\") today announced that a wholly-owned subsidiary of DRI has acquired a royalty interest in Oracea® for a net purchase price of\n \n US$46.4 million\n \n .\n \n \n \"We are very pleased to announce the addition of Oracea® to our portfolio,\" said\n \n Behzad Khosrowshahi\n \n , Chief Executive Officer of DRI Healthcare Trust. \"It has an established commercial track record and is among the top available treatment options for managing papulopustular rosacea, which can have a substantial negative quality of life impact. This transaction is expected to be immediately accretive to the Trust and further benefits unitholders through diversification of DRI's portfolio by therapeutic area and marketer.\"\n \n \n Oracea® (doxycycline) is a prescription therapy indicated for the treatment of inflammatory lesions (papules and pustules) of rosacea in adult patients. Marketed by Galderma Laboratories, Inc., a subsidiary of Galderma SA., sales of Oracea® commenced in 2006 upon its approval by the U.S. Food and Drug Administration (\"FDA\").  The royalty entitlement associated with Oracea® is on the worldwide sales of Oracea® and is expected to expire in the first quarter of 2028.\n \n \n As part of the transaction, DRI also acquired royalty interests in two additional products, neither of which expected to make a material contribution to DRI's royalty income. On closing, DRI received its first royalties of approximately\n \n US$3.5 million\n \n , related to sales for the quarter ended\n \n June 30, 2021\n \n , which was netted from the purchase price.\n \n \n \n \n About Oracea
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