Iconovo has announced that development of a generic budesonide/formoterol DPI based on its IcoRes inhaler has been transferred to CBC Corporation. Amneal signed a development and licensing deal for the generic version of Symbicort in 2016; CBC will now assume all of Amneal’s obligations under that deal.
The original agreement with Amneal was described as having an undisclosed payment up front and “milestone payments in the mid-single digit Euro millions range.” According to the new announcement, CBC will be responsible for the milestone payments and any future royalty payments.
Iconovo CEO Orest Lastow commented, ”I see many advantages with CBC as a partner. CBC has, in addition to Europe and Japan, also presence in China and India, which opens an opportunity to also reach these markets. These enormous and growing markets provide a fantastic potential for attractive royalties in the future. We have had an excellent cooperation with Amneal for years and I am sure that this will also be the case with CBC.”
