ADVERTISEMENT

Gedeon Richter and US Palatin to market new drug in Europe

Telco

Hungarian drug producer Gedeon Richter has concluded an agreement with US biopharmaceutical company Palatin Technologies to develop and commercialize bremelanotide, an active ingredient in a drug designed to treat female sexual dysfunction (FSD), the Hungarian company announced yesterday. The drug will be marketed in the European Union and in a few other countries.

FSD is a medical condintion suffered by some women that interferes with their sexual pleasure and can reduce sexual desire. Certain drugs have proven to have potential in treating the condition.

Under the terms of the agreement, Palatin will receive total upfront payments of €7.5 mln. It will also receive €2.5 mln upon initiation of its clinical trial program in the US and a further €20 mln related to regulatory milestones.

Palatin is expected to receive up to €60 mln on sales and double-digit royalties on net sales in the licensed territories, Richter added.

Palatin and Richter will cooperate to obtain regulatory approval in Europe. However sales, marketing and commercial activities in the licensed territories will be the sole responsibility of Richter.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.