Meda has acquired world-wide rights to the drug Onsolis from Meda's collaboration partner BioDelivery Sciences International (BDSI). The product - currently in registration phase - has been documented for treatment of breakthrough cancer pain in opioid tolerant patients.
Meda already holds exclusive rights to Onsolis in the US, EU, Canada and Mexico from previous agreements with BDSI. The new agreement grants Meda the rights outside these countries and access to interesting markets such as Russia, Japan, South East Asia and Australia. A one time cash payment of USD 3 million has been made to BDSI for these rights and no further milestone payments are due.
"With Onsolis, we strengthen our pain product portfolio on several important markets. The product is unique, patented and fills an important medical need," said Anders Lönner, Meda's CEO. BDSI and Meda have also reached agreement of a USD 3 million advance payment on the FDA approval milestone which is anticipated during Q2, 2009. Consequently, that milestone has been reduced from USD 30 million to about USD 27 million.