Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Taiho Pharmaceutical has entered into a license agreement to develop and market Faes Farma's anti-allergy product, bilastine, for the Japanese market.
Subscribe to our email newsletter
Bilastine is an anti-histamine product, designed for the treatment of symptoms of allergic rhinoconjunctivitis and urticaria.
Under the agreement, Faes Farma will receive an initial payment of €10m, as well as future payments in addition to royalties on sales of Bilastine in Japan.
Faes Farma chairman and CEO Eduardo Fernandez de Valderrama said the agreement, comes as a long awaited reward to the research and financial efforts deployed with bilastine.
"Considered with the rest of licenses of bilastine signed altogether, they will allow Faes Farma to walk a path of strong growth in results, growth that will be sustained for the mid and long term," Valderrama added.
Taiho Pharmaceutical president Masayuki Kobayashi said, "Allergy is one of the focused areas for Taiho Pharmaceutical and we believe that bilastine will contribute to the treatment of Japanese patients for allergic rhinoconjunctivitis and urticaria."