Salix Pharmaceuticals, Ltd. announced that it has licensed exclusive rights to market Osmoprep (sodium phosphate monobasic monohydrate, USP and sodium phosphate dibasic anhydrous, USP) tablets in France to Mayoly-Spindler S.A.S of Chatou, France.
Under the terms of the agreement, Salix may receive up to $1 million in milestone payments, as well as royalty payments based on product sales. Mayoly-Spindler will join the current mutual recognition process being conducted by Dr. Falk Pharma to obtain Marketing Authorization in Europe, according to a company press release.
"We are pleased to initiate a relationship with the highly-regarded company, Mayoly-Spindler. In keeping with our strategy, this agreement allows Salix to focus its commercial efforts on the US market and our partner, Mayoly-Spindler, to focus on developing the commercial potential of Osmoprep in France, its core market," said, Carolyn Logan, president and chief executive officer, Salix,
Speaking on behalf of Mayoly-Spindler, President Jean-Gilles Vernin said, "We are pleased with the opportunity to work with Salix, a leading U.S. gastroenterology company. The acquisition of this product reinforces our portfolio and confirms our effort to better support the French gastroenterology community. We anticipate marketing approval for the product in the first half of 2009."
Osmoprep tablets were granted marketing authorization in the United Kingdom in December 2006, where it is indicated for cleansing of the bowel when required as a preparation for certain diagnostic procedures such as colonoscopy. Osmoprep has patent protection in Europe to May 2016, the press nnote stated.
Laboratories Mayoly-Spindler is a privately-owned pharmaceutical company that develops and markets products in the therapeutic areas of gastroenterology, rheumatology and dermatology.
Salix Pharmaceuticals, Ltd., headquartered in Raleigh, North Carolina, develops and markets prescription pharmaceutical products for the treatment of gastrointestinal diseases.