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news.The Menarini Group will make a milestone payment worth $5m to Furiex Pharmaceuticals for launching Priligy in France.
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At present, Priligy is being marketed for premature ejaculation in 16 countries in Europe, Asia and Latin America and approved for the same indication in 56 countries across the world.
Furiex president and chief medical officer June Almenoff said Priligy is the only approved medication for premature ejaculation available to a wider EU market.
"We look forward to additional worldwide Priligy launches as Menarini continues to build this franchise," Almenoff added.
In May 2012, Furiex signed licensing deal with Menarini for commercialization of Priligy in Europe, Asia, Africa, Latin America and the Middle East.
According to the deal, Furiex is eligible for extra $5m launch milestone, $40m in sales-based milestones in addition to tiered royalties.