Saniona and Bone Therapeutics are the latest companies on the continent to be forced into drastic restructuring, shedding jobs and research projects to preserve rapidly dwindling cash piles.

Acacia launched two hospital drugs – Barhemsys and Byfavo – in the US during COVID but failed to overcome the physical access limitations caused by the pandemic. Eagle of the US thinks it can tap into a potentially lucrative market and is buying the beleaguered biotech.

Eagle management provided detailed insight into the existing market for vasopressin, which it entered in January with the first generic version of Endo’s Vasostrict. The US-based player believes operating cash flows for the year, boosted also by its Pemfexy (pemetrexed) launch, could top $170m, paving the way for a major acquisition.

Generic competition to Vasostrict is nearing in the US after the FDA confirmed Eagle’s previously unresolved potential for 180-day market exclusivity.