Sciele Pharma, Inc. has announced that the company had acquired an innovative head lice asphyxiation product developed by Summers Laboratories, Inc. for the United States, Canada and Mexico.
Under the terms of the agreement, Summers will receive an upfront payment, deferred payments upon achievement of certain regulatory milestones including FDA approval of the product and deferred payments based on meeting certain sales targets.
Patrick Fourteau, chief executive officer of Sciele Pharma, said, "This innovative and patented product for the treatment of head lice is an excellent addition to and strategic fit for our new paediatric product portfolio. Upon FDA approval, this product is expected to be the first prescription medication that kills head lice by asphyxiation instead of utilizing a neurotoxic pesticide."
Summers recently completed phase III clinical studies and submitted a New Drug Application (NDA) to the FDA in June 2007. The prescription lice treatment market generated approximately $50 million in sales last year (according to IMS Health's National Prescription Audit Plus data), and the over-the-counter lice treatment market is several times larger.
This product is an easy-to-use, water-based, water-soluble gel, similar in consistency to a hair conditioner, which consists of a mixture of dermatological and cosmetic ingredients. Lice need oxygen to live and breathe through sophisticated spiracles. Lice can close their spiracles and go into suspended animation for many hours. This novel product contains a naturally occurring monohydric aralkyl alcohol, which prevents lice from closing their spiracles, thereby asphyxiating the lice within ten minutes.
Sciele Pharma, Inc. is a pharmaceutical company specializing in sales, marketing and development of branded prescription products focused on Cardiovascular/Diabetes, Women's Health and Paediatrics.
Summers Laboratories is a privately held pharmaceutical company specializing in highly targeted prescription and non-prescription products for paediatric and adult dermatology.