Exclusive License for French Antifungal in the USA

In contrast with other topical treatments such as gels, rinses, or lozenges that require multiple daily dosing, the product is applied once daily on the upper gum.
Under the agreement the developer of the drug, BioAlliance Pharma (Paris, fr)) granted commercialization rights in the U.S. to PAR Pharmaceutical Companies, Inc. (Woodcliff Lake, NJ, USA). PAR Pharmaceutical develops, manufactures, and markets generic drugs and innovative branded pharmaceuticals for specialty markets.
Under the agreement, BioAlliance will receive an initial payment of US$15 million. BioAlliance may also receive up to $50 million in additional milestones, including $20 million upon FDA approval and up to $30 million in milestone payments on future sales, as well as royalties on sales, commensurate with product stage.
Dominique Costantini, CEO of BioAlliance, said: "PAR is the ideal partner for Loramyc commercialization in the U.S., with a sales force dedicated to supportive care and a product portfolio in which Loramyc will represent an important addition. This relevant milestone for patients and the medical community is also a major step for our company and its shareholders, delivered in due time.”

John A. MacPhee, president of PAR Pharmaceuticals branded products division, said, "We believe our collaboration with BioAlliance will lead to an important treatment option. It also advances PAR's strategy to build a portfolio specifically addressing supportive care, and we will continue to look for additional products that leverage our existing commercial presence in specialty markets.


Related Links:
BioAlliance Pharma
PAR Pharmaceutical Companies, Inc.