Prism Pharmaceuticals

About Prism Pharmaceuticals

Prism Pharmaceuticals, Inc. operated as a specialty pharmaceutical company with a focus on developing cardiovascular injectable products for the acute care market in the United States. The company was established in 2004 and headquartered in King of Prussia, Pennsylvania.

A significant achievement for Prism Pharmaceuticals was the development and receipt of U.S. Food and Drug Administration (FDA) approval for NEXTERONE® (amiodarone HCl), an antiarrhythmic agent. This product line was distinguished by its ready-to-use formulations, including the first premixed intravenous (IV) bag formulations and a pre-filled syringe, which did not contain polysorbate 80 or benzyl alcohol. The ready-to-use nature of NEXTERONE offered convenience to caregivers and was designed for critical, time-sensitive situations. The product also had a two-year shelf life at room temperature.

Before its acquisition, Prism had already selected Baxter International as the contract manufacturer for the premixed IV bags, utilizing Baxter's proprietary GALAXY container technology. In May 2011, Baxter International acquired Prism Pharmaceuticals in a deal with a total consideration of up to $338 million. The transaction included a $170 million upfront cash payment and up to $168 million in future sales-based milestone payments. The acquisition was a strategic move for Baxter to add NEXTERONE to its portfolio of premixed drugs for the acute care setting. Prior to the acquisition, Prism had raised $23 million in funding from investors including EW Healthcare Partners, Paul Capital Partners, and The Stephens Group.