POZEN Inc., a pharmaceutical company committed to transforming medicine, today announced that it has entered into a license agreement with Cilag GmbH International, a division of Johnson & Johnson (NYSE: JNJ), to develop and commercialize POZEN’s proprietary migraine treatment in Brazil, Columbia, Ecuador and Peru.
Per the agreement, Cilag holds an exclusive license to manufacture, develop and commercialize MT 400 in the noted territories. POZEN previously licensed the U.S.-only rights of MT 400 to GlaxoSmithKline, who markets a different dose of the drug under the name Treximet®.
“We are pleased to have reached an agreement with Cilag to develop and commercialize MT 400 in several countries in Latin America,” Liz Cermak, executive vice president and CEO of POZEN stated in the press release. “This is a first step in bringing this novel migraine product to the millions of migraine patients living outside of the United States. In addition, the income from this deal will help fuel the development and commercialization of our integrated aspirin ‘PA’ portfolio of products.”
Under the new deal, Cilag will make an upfront payment to POZEN, followed by a milestone payment to POZEN once MT400 is approved by the National Health Surveillance Agency of Brazil. During the first 10 years of sales, Cilag will pay POZEN a high single-digit royalty on net sales of MT 400, followed by a low single digit royalty during the next five years.
POZEN said the agreement will expire on a country-by-country basis on the 15th anniversary of the first commercial sale of MT 400 in each country.
For more information visit: www.pozen.com