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news.The agreement closely follows the European Commission' approval of Qutenza
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NeurogesX and Astellas Pharma have entered into an exclusive distribution, marketing and license agreement for the commercialization of Qutenza, in the European Economic Area (EEA).
The agreement closely follows the European Commission’ approval of Qutenza (capsaicin 179mg) cutaneous patch, for the treatment of peripheral neuropathic pain in non-diabetic adults.
NeurogesX will receive E30 million (approximately $42 million) for Qutenza commercialization rights, and E5 million (approximately $7 million) for a license option of NGX-1998 (the next-generation liquid formulation which uses the same active ingredient as Qutenza).
Masao Yoshida, President and CEO, Astellas, said: We are very pleased to enter into this agreement with NeurogesX. Astellas is dedicated to developing a specialty focused franchise and Qutenza’s launch in the European Union fits with our strategy. We are confident in the market potential for Qutenza given its safety and efficacy to provide site-specific pain management for up to 12 weeks. Leveraging our foothold in these territories with our strong sales and marketing teams and Qutenza’s product profile, we are positioning for a successful commercial launch that will introduce an important new product to patients with neuropathic pain.
Anthony DiTonno, CEO, NeurogesX, said: Securing an agreement with Astellas for the commercialization of Qutenza in Europe and additional territories is a significant milestone achievement for NeurogesX. Selecting the right partner was especially important to us since the European Union represents the first approval and the initial launch market for Qutenza. Astellas brings a tremendous amount of sales experience and presence across Europe and we are confident in our partner’s ability and commitment to launch Qutenza with the motivation required for commercial success. Having secured a commercial partnership in Europe, we are now turning our full attention to the remaining steps involved for the potential U.S. approval and commercialization of Qutenza.