Oscient grants Abbott Canadian Factive rights

In exchange for those rights, Abbott Canada has agreed to a transfer price on product purchases and to make certain payments to Oscient upon achievement of certain regulatory and sales milestones. Specific financial terms of the deal were not disclosed.

Factive (gemifloxacin mesylate) is currently approved in Canada for the five-day treatment of acute bacterial exacerbations of chronic bronchitis (AECB) and Abbott Canada aims to launch Factive for the treatment of AECB in the coming months.

In the US, the product is also approved for the seven-day treatment of community-acquired pneumonia of mild to moderate severity.

Abbott Canada has access to the entire clinical trial dossier for Factive and will pursue regulatory approval for additional indications in Canada. Oscient will be responsible for providing product to Abbott Canada at a transfer price that includes product supply costs and compensation to Oscient.

“Through this agreement, we are continuing to execute our strategy of building Factive into a global brand through partnerships with leading pharmaceutical companies,” commented Steven Rauscher, president and CEO of Oscient. “With 1,400 employees and a sales force experienced in building leading anti-infective brands, Abbott Canada is well-positioned to launch Factive in Canada.”