Healthcare Industry News: Meda AB
News Release - January 5, 2009
Meda Acquires World-Wide Rights to OnsolisSTOCKHOLM, Sweden--(HSMN NewsFeed)--Meda (STO:MEDAA) has acquired world-wide rights to the drug Onsolis from Meda’s collaboration partner BioDelivery Sciences International (BDSI). The product - currently in registration phase - has been documented for treatment of breakthrough cancer pain in opioid tolerant patients.
Meda already holds exclusive rights to Onsolis in the U.S., EU, Canada and Mexico from previous agreements with BDSI. The new agreement grants Meda the rights outside these countries and access to interesting markets such as Russia, Japan, South East Asia and Australia. A one time cash payment of 3 MUSD has been made to BDSI for these rights and no further milestone payments are due. ”With Onsolis, we strengthen our pain product portfolio on several important markets. The product is unique, patented and fills an important medical need”, said Anders Lönner, Meda’s CEO.
BDSI and Meda have also reached agreement of a 3 MUSD advance payment on the FDA approval milestone which is anticipated during Q2, 2009. Consequently, that milestone has been reduced from 30 MUSD to about 27 MUSD.
Meda AB (publ) is a leading international specialty pharma company. The company specialises in marketing and pharmaceutical development in late clinical stage. Acquisitions and long-term partnerships are fundamental factors that drive the company’s strategy. Meda is represented by its own organisations in about 40 countries. Meda’s products are sold in 120 countries worldwide. The Meda share is listed under Large Cap on the OMX Nordic Stock Exchange. Find out more, visit www.meda.se.
Source: Meda AB
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.