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.InSite Vision has signed a licensing and distribution agreement with Biem Pharmaceuticals, an ophthalmology-focused Turkish pharmaceutical company, for InSite's AzaSite, for the treatment of bacterial conjunctivitis.
Subscribe to our email newsletter
Under the terms of the agreement, InSite grants exclusive rights to Biem to commercialize AzaSite for ocular bacterial infection in Turkey. An option to distribute to Biem’s export markets will also be considered at a later date.
Biem will be responsible for securing regulatory approval of AzaSite for the Turkish market. In exchange, Biem will pay for the cost of product registration in Turkey and provide a double-digit royalty to InSite on net sales of AzaSite upon approval by regulatory authorities. InSite Vision will be responsible for providing manufactured product.
Kumar Chandrasekaran, chairman and CEO of InSite Vision, said: “Biem’s established market presence and success in marketing in-licensed products will enable them to be successful with AzaSite in the growing $28 million ocular antibiotics market in Turkey.”