Richter, Allergan sign distribution, supply agreement
Image by LaMography/Moni Lazar
A few days after announcing positive results from new drug Venus II, Hungarian pharmaceutical Gedeon Richter announced today it has signed an agreement with U.S.-based peer Allergan (formerly Actavis) to commercialize its levonorgestrel-releasing Intrauterine System (IUS) in Europe under the trademark Levosert, according to a press statement sent to the Budapest Business Journal.
National marketing authorizations have already been granted in Western and Northern Europe and the contraceptive product has been launched by Allergan in a number of countries, according to the press statement. Richter already markets the product in most of the Central and East European region under an agreement established with Uteron Pharma in 2011, Richter said.
Under the terms of the agreement, Richter will make an upfront payment upon signature of the contract. In addition, further sales-related royalties and milestone payments will become payable to Allergan subsequent to the launch of the product.
“This agreement is considered a further step to enhance our existing branded female healthcare franchise worldwide, being a paramount strategic initiative for our company,” said Erik Bogsch, managing director of Gedeon Richter. “The addition of this IUS to our currently available products provides Richter [with] the unique opportunity to enhance its contraceptive franchise.”
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