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news.Indevus Pharmaceuticals has signed an agreement with recently formed private company Saturn Pharmaceuticals to acquire marketing rights to the incontinence treatment, Sanctura.
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Under the terms of the amendment and consent agreement, certain provisions of Indevus’ license, commercialization and supply agreement, originally with Odyssey Pharmaceuticals, a subsidiary of Pliva, have been amended.
The amended agreement, which will be effective on the closing of the sale of Sanctura, includes several changes to the economic terms previously in place between Indevus and Odyssey. Under the agreement with Saturn, royalties payable to Indevus on net sales of Sanctura will increase. In addition, Indevus will now be entitled to receive guaranteed minimum royalties during the first three years.
Saturn has also granted Indevus the right to co-promote one of Saturn’s future urology products on terms to be negotiated.
The core structure of the Odyssey agreement remains unchanged. Both Saturn and Indevus will continue to co-promote Sanctura, Saturn will continue to fully fund Indevus’ development of Sanctura XR through milestone payments, and Indevus will continue to be responsible for manufacturing and supplying Sanctura to Saturn at cost. Saturn will also continue to reimburse Indevus for third party royalties due on net sales of Sanctura, and be responsible for all advertising, promotion, and distribution costs.
The transaction is expected to close by June 30, 2005, subject to customary terms and conditions.