Allergan Inc announced that it has entered into an exclusive licensing agreement with Kyorin Pharmaceutical, Co., Ltd. in Japan to develop and market the Alphagan, Alphagan P franchise (Brimonidine Tartrate solution 0.2 per cent and Brimonidine Tartrate Purite solution 0.15 per cent) within the ophthalmic specialty area.
The Alphagan franchise represents the third largest selling glaucoma franchise in the world as measured by 2003 revenue, according to IMS Health Inc. In 2003, global sales for the Alphagan franchise were $287 million.
Under the terms of the licensing agreement, Kyorin will be responsible for the development and commercialization of Alphagan/Alphagan P in Japan and will incur associated costs. Kyorin will provide Allergan with an up-front payment, as well as development and commercialization milestone payments. In addition, Kyorin will pay Allergan a royalty based on product sales. Allergan and Kyorin will work collaboratively on overall product strategy and management.