Alexza Pharmaceuticals and Teva Pharmaceuticals USA have announced that Teva will market Adasuve loxapine inhalation powder for the treatment of agitation associated with schizophrenia or bipolar I disorder in the US. The FDA approved Adasuve in December 2012. Teva will pay Alexza $40 million up front, up to $195 million in milestone payments, and additional tiered royalty payments on net commercial sales. Alexza will also be able to borrow up to $25 million from Teva to support Adasuve work.
Teva will be responsible for commercialization and for clinical studies, including studies for any additional neurological indications. Alexza will manufacture the product for Teva for both clinical studies and commercial sales.
Alexza President and CEO Thomas B. King said, “Teva brings an established commercial presence in hospital and psychiatric markets. Adasuve is approved to address agitation episodes in the hospital-setting, providing a fast-acting, non-coercive treatment option to patients with schizophrenia and bipolar I disorder. Teva has considerable strength and market presence with the Teva Select Brands group, and we are confident of their ability to deliver commercial success for this important new product.”
Read the Alexza and Teva press release.
