Upsher-Smith Laboratories has acquired the US rights to Tosymra sumatriptan nasal spray from Dr. Reddy’s Laboratories, the companies have announced. The FDA approved Dr. Reddy’s subsidiary Promius Pharma’s NDA for Tosymra in January 2019. The agreement, which also covered US rights to Zembrace Symtouch sumatriptan injection, included a $70 million upfront payment, $40.5 million in milestones and future sales royalties.
Upsher-Smith CEO Rusty Field commented, “This agreement underscores Upsher-Smith’s commitment to significantly expanding its pipeline and diversifying its product portfolio through both internal development and targeted acquisition. These two products are a great strategic fit for our company, and we look forward to working with Promius Pharma to ensure a smooth product transition.”
Dr. Reddy’s Laboratories Chairman and CEO G.V. Prasad said, “This is a testament to our strong R&D capabilities, and delivering solutions to unmet needs of patients. In a short time, we created a well-recognized migraine specialty business in the US and we look forward to our partnership with Upsher-Smith.”
Read the Upsher-Smith press release.
Read the Dr. Reddy’s press release.
