Sepracor acquires Oryx for $50 million

NEW YORK Marlborough, Mass.-based pharmaceutical company Sepracor has shelled out $50 million for a Canadian drug manufacturer, Sepracor announced Tuesday.

Sepracor bought Canada’s Oryx Pharmaceuticals, a Mississauga, Ontario-based company that develops medications such as Naprelan, which treats osteoarthritis and rheumatoid arthritis, and Niaspan, a cholesterol medication. It is named for a species of desert antelope.

Sepracor manufactures medications such as the insomnia drug Lunesta, which had sales of $600.9 million in 2007.