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news.Denmark-based pharmaceutical company Lundbeck has acquired the North-American and Mexican rights for nalmefene from Somaxon Pharmaceuticals, a specialty pharmaceutical company. Following the new agreement Lundbeck has worldwide rights for nalmefene, excluding Turkey and South-Korea.
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Related to this, Biotie-Lundbeck licensing agreement terms have been amended. Under the terms of the amended agreement, Biotie is now eligible for up to E84 million in upfront and milestone payments plus royalty on sales. Of the E84 million, Biotie has already received an execution fee of altogether E12 million from Lundbeck in two installments in 2006 and 2007.
Lundbeck is currently conducting three Phase III clinical trials with nalmefene for the treatment of alcohol dependence aiming to enroll altogether 1,800 patients.
Timo Veromaa, president and CEO of Biotie, said: “Lundbeck now owning North-American nalmefene rights, enabling global regulatory planning for the product, is very positive development for Biotie. We remain confident that nalmefene will generate significant revenues to the company in the long term.”