DPI developer Iconovo has announced that its development deal with Amneal for a generic version of Symbicort has been amended to add US and Chinese marketing rights for Amneal and Nordic region marketing rights for Iconovo. Acquisition of the Nordic marketing rights also marks the launch of a new division of Iconovo, Iconovo Pharma.
The original deal included marketing rights for Europe, Canada, Australia, Russia, and several other markets; according to Iconovo, the expansion of the deal to add the US and China more than doubles potential future annual royalty income. The company also noted that Amneal is currently in preparations for commercial manufacturing as the project is nearing completion.
Iconovo and Amneal signed a licensing and development deal for a generic DPI based on Iconovo’s ICOres device in 2016. Three years later, Iconovo announced that CBC Corporation would handle development of the budesonide/formoterol DPI; but in 2020, the company said that Amneal would assume the responsibility for development from CBC.
Iconovo CEO Johan Wäborg commented, “We are very pleased to have been able to expand our agreement with Amneal. It is a very strong and positive signal that Symbicort in the ICOres inhaler is a product with great international potential. Financially, this is an important event for Iconovo.” Wäborg added, “Since Iconovo is a Swedish company with long experience in the Nordic market, it is a big opportunity to also become a pharmaceutical company. For us, this is a completely natural step up the value chain, allowing us to create great value for our investors.”
Amneal Head of Global Corporate Development Gregory Sgammato said, “Symbicort is a perfect example of the complex generic products that we’re aiming to bring to market over the coming years. It is a high-value, drug-device combination in the respiratory space, which ensures it will remain an attractive global opportunity for the foreseeable future. Iconovo has been a fantastic partner and we look forward to working with them as we launch and commercialize this product.”
Read the Iconovo press release.
