Chiesi Farmaceutici S.p.A. and Novartis Pharma AG have signed an international licensing and supply agreement for Chiesi's Formoterol Modulite, an HFA-based pressurised metered-dose inhaler (pMDI) product.

Under the agreement, Novartis will have semi-exclusive promotion, sales and distribution rights for the product, following approval, in Denmark, France, Germany, Greece, Netherlands, Republic of South Africa, Spain, Switzerland and Turkey. Chiesi will supply Novartis with the finished product. A previous agreement for commercialisation of the product in Italy was signed last year.

Formoterol Modulite is the only formoterol HFA pMDI available in Europe. Modulite is a Chiesi proprietary platform technology that is based on the use of ozone-friendly HFA propellants. The application of Modulite to formoterol allowed the preparation of a robust solution formulation having, as its main advantage, uniformity of delivered dose and fine particle distribution of the inhalation cloud. The product is approved and marketed in Italy and was recently approved in Germany.

Chiesi Farmaceutici is one of the largest Italian-owned European pharmaceutical groups with a turnover of approximately € 515 million in 2004.