Ciclesonide, Nycomed’s proprietary corticosteroid, has a unique activation mechanism and is the active ingredient in Alvesco HFA (hydrofluoroalkane) Inhalation Aerosol MDI (metered-dose inhaler) for the treatment of asthma and in Omnaris AQ Nasal Spray for the treatment of allergic rhinitis. Sepracor expects to launch Omnaris AQ during the 2008 spring allergy season and Alvesco HFA in the second half of 2008.
Nycomed will receive an upfront payment of $150 million and may become entitled to receive subsequent payments of up to $280 million over the life of the agreement upon accomplishment of various development and sales milestones. Nycomed will also receive compensation for providing finished product, and royalties on sales of ciclesonide products.