GEN Exclusives

More »

GEN News Highlights

More »
Jun 30, 2011

Meda Outlicenses Elidel and Xerese to Valeant for $76M Up Front

  • Meda outlicensed the dermatology products Elidel (pimecrolimus 1% cream) and Xerese™ (acyclovir and hydrocortisone cream) to Valeant for the U.S., Canadian, and Mexican markets, for $76 million up front. The deal follows just 24 hours after Meda confirmed renegotiating the terms of its own license to Xerese from Medivir in the same three territories, in a deal through which Medivir received $45 million in return for waiving its rights to royalty fees.

    As part of the new deal with Valeant, Meda will receive a series of milestones and royalties totaling an estimated $130 million over the next 18 months, in addition to its $76 million up-front fee.  The firm will also receive long-term running double-digit royalties on net sales of the topical atopic dermatitis treatment Elidel, and the cold sore creams Xerese and Zovirax® (the GlaxoSmithKline acyclovir trademark which Valeant uses under license), including minimum royalties of $120 million during the 2013-2015 period. Valeant has exclusive rights to Zovirax in the U.S. and Canada.

    Meda inked a deal to acquire Elidel from Novartis for $420 million in April. At that time the firm announced it was also negotiating a deal to outlicense Elidel to Valeant. Elidel is approved and sold in more than 90 countries worldwide, and achieves annual sales of about $120 million.


Add a comment

  • You must be signed in to perform this action.
    Click here to Login or Register for free.
    You will be taken back to your selected item after Login/Registration.

Related content

Jobs

GEN Jobs powered by HireLifeScience.com connects you directly to employers in pharma, biotech, and the life sciences. View 40 to 50 fresh job postings daily or search for employment opportunities including those in R&D, clinical research, QA/QC, biomanufacturing, and regulatory affairs.
 Searching...
More »

GEN Poll

More » Poll Results »

Stopping Research Fraud

What is the best approach to curbing scientific misconduct and outright fraud?