Endo acquires US marketing rights for Novartis’s Voltaren Gel

Under the terms of the five-year agreement with Novartis, Endo will make an upfront cash payment of $85 million. Novartis is also eligible to receive a one-time milestone payment of $25 million if annual sales exceed $300 million. Novartis will receive royalties on the net sales of Voltaren Gel in the US and will supply this product to Endo.

Voltaren Gel, a nonsteroidal anti-inflammatory medication (NSAID), is indicated for use in treating pain associated with osteoarthritis in joints. Endo expects to commercialize Voltaren Gel without delay, initially using one of its two specialty sales forces, consisting of 160 representatives, prior to executing a full physician launch in late May, 2008 with an additional 275 contract sales representatives targeting primary care physicians who prescribe NSAIDs and Cox-IIs.