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news.Sweden-based specialty pharmaceutical company Meda has acquired the exclusive worldwide commercialization rights from Orexo of two patented drugs, Sublinox and OX-NLA, which are in late development phase.
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As consideration for exclusive world-wide commercialization rights for Sublinox and OX-NLA, Meda has paid $20 million. Meda has also agreed to the one time milestone payments for each product, when a yearly sales level is reached. Orexo will receive double digit royalty on net sales. Meda’s gross margin for Sublinox and OX-NLA is estimated to become higher than 70%.
Sublinox (treatment of insomnia) contains the well-documented active substance zolpidem. Regulatory submission to the FDA in the US is expected before the third quarter 2008. OX-NLA is a patented nasal spray formulation with the antihistamine substance cetirizine, which is being developed for the treatment of allergic and non-allergic rhinitis. Meda also has exclusive rights to develop and commercialize combination products based on OX-NLA.
Anders Lonner, CEO Meda, said: “I’m really glad that two Swedish based pharma companies managed to secure this deal. We strengthen Meda’s pipeline and add another significant marketing opportunity in the US in the near term with Sublinox.”