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news.InSite Vision has signed a licensing and distribution agreement with Bioceutica an ophthalmology-focused Argentine pharmaceutical company, for InSite's AzaSite for the treatment of bacterial conjunctivitis.
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Under the terms of the agreement, InSite grants exclusive rights to Bioceutica to commercialize AzaSite for ocular bacterial infection in Argentina, Chile, Paraguay and Uruguay. Bioceutica will also be responsible for securing regulatory approval of AzaSite in those countries. In exchange, Bioceutica will pay for the cost of product registration in those countries and provide a double-digit royalty to InSite on net sales of AzaSite upon approval by regulatory authorities. InSite Vision will be responsible for providing manufactured product.
Kumar Chandrasekaran, chairman and CEO of InSite Vision, said: “We believe that Bioceutica’s management experience and success in marketing in-licensed products will enable them to be successful with AzaSite in this growing South American region.”