Map inks $157M co-promotion pact with Allergan

Allergan has agreed to pay Map Pharmaceuticals $60 million upfront and promised up to $97 million more for the right to co-promote the new migraine drug Levadex, which is poised for a regulatory filing in the first half of this year. Levadex is an inhaled version of an IV drug that's been in use for years.

The deal gives Allergan a shot at sharing sales revenue for the therapy, using its sales force to target specialists and build on the work they've been doing marketing Botox as a migraine therapy. Map retains marketing rights to primary care doctors, giving it a chance to sign another partner for the drug.

Allergan's "commitment to neurosciences and their understanding of the needs of our target physicians for Levadex have been demonstrated through the ongoing evolution of Botox, including its recent FDA approval for Chronic Migraine patients," said Map CEO said Timothy S. Nelson. "They are the ideal partner to help us best serve this specialty segment and to provide the resources needed to successfully launch and commercialize Levadex upon potential FDA approval."

- read the Map release
- see the story from the Wall Street Journal