Norgine, the leading European specialty pharmaceutical company has granted Medical Futures the exclusive rights to market Moviprep in Canada.
Moviprep is a novel patent-protected product developed by Norgine for bowel cleansing prior to colonoscopy and other situations where a clean bowel is required. The product is marketed by Norgine in Europe and in the USA by its partner Salix Pharmaceuticals.
In return for the rights granted to it, Medical Futures will make an upfront payment to Norgine as well as further milestones and royalty payments on sales. The precise details of the deal have not been disclosed.
"This agreement with Norgine underlines Medical Futures' commitment to the prevention and treatment of gastrointestinal diseases," said Par Nijhawan, Medical Futures, chief medical officer.
Commenting on the agreement Peter Stein, Norgine's CEO, said, "We are delighted to be working with Medical Futures in Canada. They are a relatively young company but have established a strong presence in the gastroenterology market."