“Xyrem is a strategic fit for our existing marketing and sales organizations in Canada,” Valeant’s president and CEO, Timothy Tyson said.
The agreement calls for Valeant to pay Jazz Pharmaceuticals an upfront fee and payments based on sales.
Xyrem, a liquid formulation of sodium oxybate, is the first and only product approved in Canada to treat cataplexy, which is a sudden loss of muscle tone associated with narcolepsy. Valeant expects to launch and distribute Xyrem in Canada in mid 2007 through its neurology sales force.
Xyrem has demonstrated an acceptable safety profile in narcoleptics with cataplexy when administered in nightly divided doses of 6 to 9g. The adverse event profile was generally consistent with the known pharmacological actions of sodium oxybate and intercurrent disease states.