Richter announces $2 mln milestone payment of for licensed drug

Pharma

Hungarian drugmaker Gedeon Richter on Monday announced European approvals and milestone payments totaling $2 mln for a drug for which it has an exclusive license in Europe, state news agency MTI reported. 

Richter and Australian peer Acrux said Acruxʼs drug for treating menopause symptoms, called Lenzetto, had received multiple marketing approvals in European territories, triggering the milestone payments. 

These approvals of Lenzetto were granted after the European decentralized procedure (DCP) was completed with the first country approval triggering a milestone payment of $1 mln and the second and third approvals triggering milestone payments of $500,000 each, Richter said.

Initial launches are planned for the first half of 2016, following pricing and reimbursement approvals, it added.

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