Meda in-licenses exclusive rights to Xerese
STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Meda (STO:MEDAA) has signed an exclusive licensing agreement for Xerese with the Swedish development company Medivir AB. Xerese (formerly Lipsovir®, ME-609), used for topical treatment of herpes labialis (cold sores), contains a combination of the antiviral substance acyclovir and hydrocortisone. Meda's exclusive rights cover the US, Canada and Mexico.
Xerese is the first topical treatment indicated to both reduce the likelihood of cold sores as well as shorten the healing time of existing cold sore lesions. Xerese was approved by the FDA (the Food and Drug Administration) as a prescription drug during 2009. "Xerese is a very interesting addition to our product portfolio in the US. It's already registered and has a unique and differentiating claim. When commercial stock is in place we will launch the product. We look forward to the collaboration with Medivir and that we together can develop new indications for Xerese", says Anders Lönner CEO at Meda.
In consideration for exclusive rights to Xerese, Meda will pay Medivir a total of 5 MUSD in up-front and pre-launch milestones. Meda will also pay Medivir double-digit royalties on sales.
MEDA AB (publ) is a leading international specialty pharma company. Meda's products are sold in 120 countries worldwide and the company is represented by its own organizations in 50 countries. The Meda share is listed under Large Cap on the Nasdaq OMX Nordic Stock Exchange in Stockholm. Find out more, visit www.meda.se.
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