Sigmar Italia obtained rights to market Stellar Pharmaceuticals’ treatment of interstitial cystitis and painful bladder syndrome, Uracyst, in Italy. This transaction follows a slew of commercialization deals Stellar has been inking since the product received a CE mark of approval.
As with previous agreements, Sigmar will pay Stellar an up-front fee plus a specified transfer price. This agreement has an initial five-year term and may be renewed for an additional three years if both parties agree. Sigmar expects to launch Urocyst in the second quarter of 2009.
Since early December of last year, Stellar has signed on a number of European partners: EuroCept in Netherlands, Belgium, and Luxemburg; Vitaflo Scandinavia in Denmark, Finland, Iceland, Norway, and Sweden; Galen in the U.K. and Ireland; and Eczacibasi Ilac Pazarlama (EIP) in Turkey and the Turkish Republic of Northern Cyprus. Watson Pharmaceuticals took over rights in the U.S. in December 2006.