NexMed submitted a new drug application with the FDA on September 21, 2007 and is awaiting confirmation of acceptance of its filing.
Under the terms of the agreement, Warner Chilcott has exclusive US rights to develop and market NexMed’s product. NexMed has received an initial, up-front payment and is eligible to receive additional payments upon achievement of certain development and regulatory approval milestones. Further, Warner Chilcott will pay a royalty to NexMed on sales of the product.
Roger Boissonneault, CEO of Warner Chilcott, said: “This exciting collaboration allows Warner Chilcott to expand into a complementary therapeutic area utilizing its proven sales and marketing expertise. We believe that the NexMed product has the potential to be an important new therapy.”