Hungarian drug company Gedeon Richter and its US-based unit Gedeon Richter USA signed an agreement on June 18 with US peer KV Pharmaceutical Company regarding licensing rights to certain of the latter company's Women's Health technologies and products, Richter announced on the website of the Budapest Stock Exchange.
The agreement expands the relationship of the parties and allows Gedeon Richter rights to manufacture and distribute certain of KV's proprietary technologies and products in its territories, including the European Union. KV Pharmaceutical will receive undisclosed milestones and royalties for products developed under the terms of the agreement.
The agreement also provides for the development of additional products in the future. KV retains the rights to the products and technology in the US.
Richter Gedeon CEO Erik Bogsch said “We consider this agreement as an important step towards our strategy acquiring projects or products with high added value nature, as it allows us to enhance our existing female healthcare portfolio, not only in our traditional markets, but in all the EU member states. Present in-licensed products, as well as Richter's future proprietary development products will be produced at Richter's facilities based on KV's excellent technology platform.” (MTI – Econews)