Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Unigene Laboratories has received a $4 million milestone payment from Upsher-Smith Laboratories after receiving FDA approval for Fortical, its nasal calcitonin product for the treatment of postmenopausal osteoporosis.
Subscribe to our email newsletter
This is the final milestone payment in Unigene’s exclusive US licensing agreement with Upsher-Smith. Fortical, Unigene’s first US product, was approved and launched last month and is currently available by prescription at retail pharmacies across the US.
“The expected steady stream of revenue, from both product sales to Upsher-Smith as well as royalties, should greatly improve our cash flow,” commented Dr Warren Levy, president and CEO of Unigene. “We are working closely with Upsher-Smith to support their commercialization activities and continue to be impressed with their commitment to Fortical.”
“The final milestone payment signifies what we hope to be the beginning of a long and profitable relationship for both Upsher-Smith and Unigene Laboratories,” says Mark Evenstad, vice chairman and president of Upsher-Smith Laboratories.