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.SkyePharma has entered into a deal with Mundipharma International for development and marketing rights in Europe and other international markets for Flutiform, its combination product for asthma.
Subscribe to our email newsletter
Mundipharma will have exclusive rights to market Flutiform in Europe and other territories outside North, Central and South America, with an option to negotiate for exclusive rights in Japan.
SkyePharma has received an upfront payment of E15 million and will receive additional milestone payments of up to a further E70 million on attainment of various development and revenue targets. SkyePharma will receive royalties on sales by Mundipharma, with the royalty rate in double digits.
Mundipharma is a privately-owned pharmaceutical company that is already SkyePharma's licensee for its oncology drug DepoCyte, in Europe and certain other markets.
“I am pleased to announce another significant step in the strategic plan that we announced to shareholders earlier this year. We expect to reach the market with Flutiform in 2009, by which time the European market for combination treatments for asthma and COPD is expected to exceed $3 billion,” stated Frank Condella, SkyePharma's chief executive.
In addition SkyePharma and Mundipharma's associate company, Mundipharma Medical Company, will be entering into a manufacturing and supply agreement under which SkyePharma will supply commercial goods and samples to Mundipharma.
SkyePharma is currently conducting the clinical trials required for US approval of Flutiform in adult asthma.
Flutiform is currently in phase III development for the indication of asthma in adults and adolescents and is expected to be submitted for approval in the USA in the second half of 2007 and in Europe in 2008.