Pharma BD Deal Intelligence
CIMA Labs' oral disintegrating tablet technology delivered Fentora, but a 2007 FDA safety alert over fatal dosing errors and Teva's full wind-down of the CIMA entity by 2017 mark this as a modest, troubled outcome rather than a clear win.
CIMA's OraVescent tech delivered Fentora, but safety scandals, an off-label marketing felony/settlement in the same product family, and eventual full wind-down of the CIMA entity by acquirer Teva mark this as a modest, troubled outcome rather than a clear win.
Full analysis, sources & comparables →CEO Frank Baldino: 'Combining CIMA's innovative delivery technologies together with our clinical development, regulatory, and sales and marketing experience,…
Baldino: the deal 'provides us with a tremendous opportunity to significantly expand our established pain care franchise by adding OraVescent fentanyl to our…
Final FTC decision and order formalizes the Barr generic Actiq license remedy and permits Cephalon's CIMA acquisition to fully close.
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FTC consent agreement Aug 9 2004; required licensing of Actiq generic to Barr; oral disintegrating tablet tech
CIMA's OraVescent tech delivered Fentora, but safety scandals, an off-label marketing felony/settlement in the same product family, and eventual full wind-down of the CIMA entity by acquirer Teva mark this as a modest, troubled outcome rather than a clear win.
Assessment window: 15yr post-close.
Breakthrough cancer pain refers to transient severe pain flares that occur despite scheduled opioid therapy in advanced cancer patients. Fast-onset transmucosal fentanyl formulations were developed because oral opioids cannot match the rapid onset and short duration profile required to manage these episodes.
This entry represents the August 9, 2004 closing event of the same Cephalon-CIMA transaction first signed in November 2003, gated on FTC consent. At close, Cephalon controlled both Actiq (the dominant marketed BTCP fentanyl lozenge) and the late-stage OraVescent fentanyl buccal tablet (later branded Fentora, approved September 2006). The structural remedy required Cephalon to license a fully paid-up, irrevocable generic Actiq right to Barr Laboratories — a notable FTC intervention in pharma at the time, structured to restore brand-to-generic competition that the deal would have eliminated. Post-close, Fentora's 2006 launch lifted Cephalon's BTCP franchise revenue trajectory, partially offsetting Actiq's anticipated generic erosion. The category was subsequently expanded by Onsolis (BDSI/Meda), Subsys (Insys), Lazanda, and Abstral, and was later compressed by the broader REMS framework imposed on transmucosal fentanyl products and by the post-2010 opioid policy environment.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Cephalon Inc. / CIMA Labs Inc. (this deal) | 2004 | $515M | 46 |
| Cephalon Inc. / Laboratoire L. Lafon S.A. (Group Lafon) | 2000 | $450M | 89 |
| Cephalon Inc. / Salmedix, Inc. | 2005 | $160M | 89 |
| Cephalon Inc. / Group Lafon (France) | 2001 | $450M | 80 |
| Cephalon Inc. / Cell Therapeutics, Inc. | 2005 | $70M | 74 |
| Cephalon Inc. / Anesta Corp. | 2001 | $444M | 65 |
| Cephalon Inc. / Anesta Corp. | 2000 | $444M | 64 |
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