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news.Akrimax Pharmaceuticals has paid $500,000 milestone payment to NovaDel Pharma in connection with the license and distribution agreement, between NovaDel Pharma and an affiliate of Akrimax Pharma, Mist Acquisition on 27 October 2009.
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According to the pact, Akrimax Pharma got license from NovaDel Pharma for the manufacturing and commercialization of NitroMist in North America.
NovaDel Pharma’s NitroMist (nitroglycerin sublingual spray) belongs to a group of drugs called nitrates, which is used to treat or prevent attacks of chest pain (angina).
NovaDel Pharma is a specialty pharmaceutical company that develops oral spray formulations for a range of marketed pharmaceutical products.