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news.Furiex Pharmaceuticals and Menarini have signed a licensing deal to commercialize Priligy in Europe, Asia, Africa, Latin America and the Middle East.
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Presently, Priligy is marketed for on-demand treatment of premature ejaculation in 15 countries in Europe, Asia and Latin America.
According to the agreement, Furiex is entitled to receive a $15m payment upon closing, up to $20m in regulatory and launch milestones and up to $40m in sales-based milestones.
Additionally, Furiex will be eligible to receive tiered royalties on product sales ranging from mid-teens to mid-twenties in percentage terms.
Menarini Group board member Alberto Giovanni Aleotti said Priligy is the only product that has received regulatory approval specifically for the treatment of premature ejaculation.
"Premature Ejaculation is an underdiagnosed medical condition with only 9 % of sufferers seeking medical advice due to the social stigma associated with the condition," Aleotti added.
Furiex will hold development and commercialization rights in the US, Japan and Canada. Menarini will be responsible for the commercialization activities in the licensed territories and will fund ongoing trials.