News & Events


Millicent Pharma Acquires the U.S. Commercial Rights to Intrarosa® from AMAG Pharmaceuticals

May 26, 2020

Minor Hinson, Chief Investment Officer of Bourne Partners Strategic Capital, responded to the news of the transaction, saying “we are very excited about Millicent’s acquisition of Interosa from AMAG, as it clearly is synergistic with Millicent’s women’s health strategy. This is exactly the type of add-on acquisition we envisioned in our Phoenix Therapeutics Partnership with The Carlyle Group. Congratulations to the Millicent team on this acquisition.”

To view the original Carlyle release click here.

New York, NY – Millicent Pharma Limited, a global pharmaceutical company formed by the Millicent Pharma management team and The Carlyle Group, today announced a definitive agreement to acquire the U.S. commercial rights to Intrarosa®(prasterone) from AMAG Pharmaceuticals, Inc. a pharmaceutical company focused on bringing innovative products to patients with unmet medical needs. Intrarosa® is a steroid indicated for the treatment of moderate to severe dyspareunia, a symptom of vulvar and vaginal atrophy, due to menopause.

The transaction value is up to $125 million, including an upfront fixed consideration of $20 million and contingent, sales-based milestone payments of up to $105 million. The transaction was facilitated by a strategic equity investment from Millicent Pharma management, investment funds advised by The Carlyle Group, and other existing investors.

In 2018, The Carlyle Group and pharmaceutical industry veterans – Dr. John King, Roger Boissonneault, and Geoffrey Elliot – jointly announced the launch of Millicent Pharma with the acquisition of Femring – a long-acting, estrogen-based, vaginal ring treatment for menopausal women. As a complementary product with a similar patient population to Femring, Intrarosa® fits well within Millicent’s existing infrastructure.

Roger Boissonneault, CEO of Millicent, said, “Adding Intrarosa® to the Millicent platform is another step toward creating a diversified women’s health business with strong, on-market products and a robust research and development pipeline. We believe Intrarosa® is a highly valuable product for patients, and we look forward to supporting it in the market.”

Joe Bress, Principal at The Carlyle Group, added, “We’re proud to partner with the Millicent team to continue to build out a differentiated pharmaceuticals platform and look forward to making additional investments behind Millicent going forward.”

Intrarosa® is a registered trademark of Endoceutics, Inc. Any other trademarks referred to in this release are the property of their respective owners.

About Millicent Pharma

Millicent Pharma is a pharmaceutical company that is focused on improving patient lives and outcomes and seeks to acquire, develop, manufacture, and commercialize pharmaceutical products globally. The executive team at Millicent Pharma – John King, Roger Boissonneault, and Geoffrey Elliot – will seek future acquisitions with the financial backing of the executive team and The Carlyle Group. Millicent Pharma is headquartered in Ireland.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $217 billion of assets under management as of March 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 32 offices across six continents. Further information is available at Follow The Carlyle Group on Twitter @OneCarlyle.

About BPSC

Bourne Partners Strategic Capital is an investment firm specifically focused in the pharmaceutical, pharma services, OTC and consumer health sectors and is an affiliate of Bourne Partners, an Investment Banking advisory firm specializing in the same core areas. Some of BPSC’s active strategic investments include Covis Pharma, Millicent Pharma, iNova Pharma, AMRI, Novitium Pharma and WellDyneRx.  As owners and operators with over 20 years of experience, Bourne Partners Strategic Capital strives to generate compelling returns to its investors by being a value-added investment partner in its core focus sectors, ensuring alignment among investors and management, and by working hand-in-hand with management and all stakeholders to grow business value over the long term. For more information, please visit