Indevus will take over the development and commercialization of Nebido, which recently launched in Europe, in the US. Schering will manufacture and supply commercial product to Indevus.
Indevus will pay $30 million for the rights, and will also fork out a percentage of net sales to Schering to cover both the supply of finished product and royalties.
In trials, Nebido has shown an ability to reduce symptoms and prevent consequences associated with testosterone deficiency. The drug is now the first injectable product for treating the condition that requires only one dose every three months.
“Hypogonadism has a profound impact on the quality of life for millions of men,” said John Tucker, chief sales and marketing officer for Indevus. “The market is highly under-treated and is expected to grow by more than 10% annually which represents an attractive opportunity for Nebido.”
Based on the success of the product, Indevus anticipates filing a New Drug Application with the FDA in the second half of 2006.