As part of the alliance, Forest will provide nearly $125m to moksha8 in several phases over a two-year period, provided moksha8 meets certain business goals and will also have the option to acquire moksha8 upon two years exhaustion.
In accordance with the alliance, moksha8 has expanded license arrangement with Watson Pharmaceuticals to expand its commercialization rights for Watson CNS generic products in Brazil and Mexico and has purchased Watson’s minority equity position in moksha8.
Forest Laboratories corporate development and strategic planning senior vice president David Solomon said Forest is pleased with the transaction with moksha8, which provides access in a risk controlled manner to a commercial operation in Latin America.
”Moksha8 is uniquely positioned to commercialize novel products such as Viibryd® in Latin America, and Forest will augment the moksha8 pipeline through our broad global partner network and business development reach," Solomon added.
Moksha8 chief executive Simba Gill said, "We are also very pleased to build on our successful partnership with Watson, which has one of the strongest branded generics portfolios in the industry and with whom we have rapidly become a market leader in the area of branded generic CNS medicines in Brazil."
Watson global brands and biosimilars president Fred Wilkinson said, "We are pleased to be able to expand on our successful partnership with moksha8 in commercializing branded generic CNS products in Brazil and Mexico."