Richter and Forest Laboratories extend cooperation
Tuesday, November 29, 2005, 12:12
Hungarian drug maker Richter Gedeon Rt and its wholly owned subsidiary Richter USA, and Forest Laboratories Holdings, a wholly owned subsidiary of Forest Laboratories, Inc., have entered into two new cooperation agreements involving two novel mechanisms targeted for the treatment of various CNS conditions, Richter announced. The two new agreements build upon the existing collaboration between the companies announced last year for a novel antipsychotic. The first new collaboration will focus upon a group of compounds that will be developed for the treatment of chronic pain and other CNS conditions. Under the first agreement, Forest will pay Richter undisclosed upfront and milestone payments in addition to royalties and will have exclusive rights in the U.S. and Canada. The two companies will jointly fund the development program.
Under the second agreement, Forest will pay Richter undisclosed upfront and milestone payments in addition to royalties and will have exclusive rights in North America while Richter will retain exclusive rights in Europe and countries of the former Soviet Union. The two companies will share rights in all other territories. The two new agreements build upon the ongoing and successful collaboration between the two companies announced last year for the novel antipsychotic, Richter said.
The announcement noted that the neuropathic pain market in the United States is estimated to exceed $2 bln annually.