California-based Impax Pharmaceuticals has acquired exclusive US rights to several dosage forms of Zomig zolmitriptan, including the nasal spray formulation, from AstraZeneca. Zomig nasal spray is approved in the US for the treatment of migraine headaches. The agreement also gives Impax non-exclusive rights to develop and commercialize new zolmitriptan products. AstraZeneca will receive quarterly payments from Impax totaling $130 million in 2012; after this year, Impax will pay royalties on sales of the products.
“For the longer term profitability of the brand business unit,” said Impax Laboratories President and CEO Larry Hsu, “we look to build sales of the Zomig nasal spray dosage form.”
Impax Pharmaceuticals President Michael Nestor said, “We are pleased to obtain a licensing agreement for Zomig, consistent with our goal to increase the revenue and financial contribution of our Impax Pharmaceuticals business to Impax Labs. Zomig, with US. net sales for the twelve months ended September 30, 2011 of $163 million, is a strong neurology brand, and the nasal spray form has US patents expiring as late as 2021. The Zomig product franchise fits well with the capabilities of our neurology focused specialty sales force. It will support the growth of our commercial organization as we prepare for the potential launch of IPX066, our leading brand product candidate for Parkinson’s Disease, and beyond.”
Impax Laboratories is also partnered with Perrigo on a generic azelastine nasal spray.
Read the Impax press release.
