Novartis announced that its affiliate Novartis Pharma AG has signed a license agreement regarding a new multi dose dry powder inhaler Airmax developed by Ivax Corporation. This agreement covers the use of Airmax Ivax device to deliver Novartis respiratory drugs Foradil (formoterol) and Miflonide(budesonide) in Europe and other countries. Ivax will be responsible for filing and marketing approval in Europe and will manufacture the products. Novartis will be the exclusive distributor of the new products in some countries, while Ivax and Novartis may jointly distribute them in others.

"This agreement will enhance the opportunity to make Foradil and Miflonide available in a new device giving wider options to patients in Europe." said Andrew Kay, Head of Global Sales and Marketing, Novartis Pharma.

Foradil (formoterol) is a beta-2-agonist bronchodilator that has both a rapid onset of action (within 3-5 minutes after inhalation) and a long duration of action for over 12 hours. It is widely used in 87 countries around the world. Miflonide (budesonide) is a second generation inhaled corticosteroid with a well established efficacy and tolerability.