“Galderma fulfils all of our objectives: a strong commitment to the success of our botulinum toxin type A product in Europe and the maximization of its market penetration and potential going forward,” said Jean-Luc Belingard, chairman and CEO of Ipsen.
Under the terms of this agreement, Ipsen granted Galderma rights to develop, promote and distribute a specific formulation for the aesthetic medicine indications of its botulinum toxin type A product in the EU, Russia and certain territories of the Middle East and Eastern Europe. In addition, Ipsen also granted Galderma first rights of negotiation for aesthetic medicine indications in the rest of the world, excluding the US, Canada and Japan.
Galderma will pay Ipsen an upfront payment of E10 million and up to E20 million in additional payments upon the achievement of certain milestones. In addition, Galderma will pay royalties to Ipsen. The agreement is for an initial term expiring in September 2019 and will be extended for a total of 30 years upon the achievement of a milestone.
The specific formulation for the aesthetic medicine indication is currently under regulatory review in France, for approval and subsequent registration in the EU.
Galderma will carry out and fund any future development activity for new indications. Ipsen will own all regulatory approvals and all data arising from development activities while Galderma will own the trademark rights.
Ipsen's botulinum type A has shown a strong safety and efficacy profile in a number of indications since it was first approved in 1991.