Teva has acquired exclusive marketing and commercialization rights to Egalet Corporation’s Sprix ketorolac tromethamine nasal spray in Israel, Gaza and the West Bank, Egalet has announced. Sprix nasal spray is used for the short-term treatment of moderate-to-severe pain in adults. Financial terms were undisclosed but include an upfront payment, sales-based milestone payments, and a portion of profits from sales in those territories.
In January 2015, Egalet acquired Sprix from Luitpold Pharmaceuticals, a subsidiary of Daiichi Sankyo. Sprix was launched in the US in 2011, and Egalet began promoting the product in the US in May 2015.
Egalet President and CEO Bob Radie commented, “This partnership showcases both companies’ commitment to delivering effective, unique pain medicines and leverages the regional commercial expertise of Teva. Our agreement with Teva represents a significant milestone for our company as it is our first distribution agreement outside the US for Sprix nasal spray and the first step to expanding the global reach of our commercial products. We will continue to seek out these types of collaborations so that we can deliver our novel treatment options to patients across the globe.”
Read the Egalet press release.
