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Home Industry News Ferring signs Budesonide MMX licensing agreement

Ferring signs Budesonide MMX licensing agreement

15th October 2007

Ferring Pharmaceuticals has signed an exclusive global licensing agreement – excluding the USA and Japan – with Cosmo Pharmaceuticals for Budesonide MMX – a corticosteroid for the treatment of ulcerative colitis.

The company will pay Cosmo an initial sum of two million euros (1.4 million pounds) for the rights to the product, with possible milestone fees of up to 58 million euros to be paid upon the attainment of specified development and market success landmarks.

Ferring will also pay Cosmo a double-digit royalty on any net sales revenue seen by the orally-administered compound. Market entry for the drug is forecast to occur in 2010.

Michel L Pettigrew, chief operating officer of Ferring, said: “We have been following Cosmo’s development quite closely and believe that Budesonide MMX fits well with our treatment portfolio.”

He added that the firm has for a long time led the market for the provision of medication for inflammatory bowel disease and notes that Budesonide MMX will offer patients improved efficacy and enhanced tolerability as a treatment for ulcerative colitis.

In January 2007, Shire reported that its Lialda (mesalamine) compound with multi-matrix system (MMX) technology is an effective treatment for active, mild to moderate ulcerative colitis.

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