Medicis inks $58M dermatology pact with India's Lupin

The media blitz focused on Medicis CEO Jonah Shacknai in the wake of the bizarre death of his girlfriend hasn't prevented the company from completing new development pacts. While a U.S. subsidiary of India's Lupin settled a legal squabble with Medicis Pharmaceutical over the right to sell a generic version of Solodyn extended release in the U.S., the Indian company inked a separate $58 million pact giving the U.S. biotech rights to its formulation technology for multiple programs.

Lupin gets $20 million upfront and $38 million in promised milestones in the licensing pact, which also gives Lupin a royalty stream and Indian rights to the drugs Medicis develops using the technology. The Medicis deal follows a similar pact Lupin signed with Salix.

"This partnership is a fairly long-term one and the products to be developed are from a variety of segments, although Medicis primarily works in [the] dermatology sector," Lupin's Nilesh Gupta tells Reuters.

Medicis, which markets acne and wrinkle treatments, was founded by Jonah Shacknai in the late 1980s. Shacknai has been at the center of a media scrum for the past two weeks as police investigate the mysterious death of his girlfriend shortly before his son died from injuries he sustained in an apparent accident.

- see the story from Reuters
- check out the report from the Business Standard
- and here's a Los Angeles Times profile on Shacknai