- Oracea® is the only
branded oral prescription medication indicated for papulopustular
rosacea -
TORONTO, Sept. 30, 2021 /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 US$46.4
million.
"We are very pleased to announce the addition of Oracea® to our
portfolio," said Behzad
Khosrowshahi, 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."
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.
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 US$3.5 million, related to sales for the quarter
ended June 30, 2021, which was netted
from the purchase price.
About Oracea®
Oracea® is a once-daily oral prescription therapy indicated for
the treatment of rosacea, an inflammatory skin condition.
Oracea® is formulated as a controlled release oral capsule
containing 40 mg of active drug, doxycycline monohydrate, where 30
mg are immediate release and 10 mg are delayed release beads.
The 40 mg capsules provide a sub-antimicrobial dose of doxycycline
that reduces the inflammatory response in patients with Rosacea.
Oracea® was approved by the FDA in May
2006 and launched by CollaGenex (subsequently acquired by
Galderma) in July 2006.
About Papulopustular Rosacea
Rosacea is a common skin condition that is characterized by
facial flushing and a spectrum of clinical signs, including
erythema, telangiectasia (spider veins), coarseness of skin and an
inflammatory papulopustular eruption resembling acne. The global
ROSacea COnsensus (ROSCO) panel and The National Rosacea
Society classify rosacea into four phenotypes based on clinical
signs and symptoms: flushing, papulopustular, phymatous and ocular.
Papulopusutular rosacea tends to occur in patients with moderate to
severe disease and results in patients presenting with numerous
inflammatory papules or pustules which can have a significant
psychosocial impact due to its effect on the patients' physical
appearance. Moderate to severe rosacea has also been associated
with hyperlipidemia, hypertension, metabolic, cardiovascular, and
GI diseases. Studies have indicated that Rosacea has an
estimated prevalence of 5-12 percent of adults, including one where
the papulopustular subtype made up 25 percent of Rosacea cases.
About DRI Healthcare Trust
DRI Healthcare Trust provides unitholders with differentiated
exposure to the anticipated growth in the global pharmaceuticals
and biotechnology markets. Our business model is focused on
managing and growing a diversified portfolio of pharmaceutical
royalties with the aim to deliver attractive growth in cash royalty
receipts over the long term. DRI Healthcare Trust is an
unincorporated open-ended trust governed by the laws of the
Province of Ontario, externally
managed by its manager, DRI Capital Inc. DRI Healthcare Trust's
units are listed and trade on the Toronto Stock Exchange in
Canadian dollars under the symbol "DHT.UN" and in U.S. dollars
under the symbol "DHT.U".
Caution concerning forward-looking statements
This news release may contain forward-looking information within
the meaning of applicable securities legislation. Forward-looking
information generally can be identified by the use of
forward-looking words such as "expect", "continue", "anticipate",
"intend", "aim", "plan", "believe", "budget", "estimate",
"forecast", "foresee", "close to", "target" or negative versions
thereof and similar expressions. Some of the specific
forward-looking information in this news release may include, among
other things, statements that our royalty interest in Oracea® is
expected to be immediately accretive to the Trust and that such
royalty interest is expected to expire in the first quarter of
2028. Forward-looking information is based on a number of
assumptions and is subject to a number of risks and uncertainties,
many of which are beyond the Trust's control that could cause
actual results to differ materially from those that are disclosed
in or implied by such forward-looking information. These risks and
uncertainties include, but are not limited to, those that are
disclosed in the Trust's most recent annual information form. The
forward-looking information in this news release is based on our
assumptions regarding the performance of our royalty interest in
Oracea®, including with respect to worldwide sales. All
forward-looking information in this news release speaks as of the
date of this news release. The Trust does not undertake to update
any such forward-looking information whether as a result of new
information, future events or otherwise except as required by law.
Additional information about these assumptions and risks and
uncertainties is contained in the Trust's filings with securities
regulators, including its latest annual information form and
Management's Discussion and Analysis. These filings are also
available at the Trust's website at dricapital.com.
SOURCE DRI Healthcare Trust