Sepracor, Arrow International Group deal
Sepracor received an exclusive, worldwide license to use Arrow's stable steroid suspension formulations and other nebule technology to develop and commercialize inhaled therapeutics containing ciclesonide, ciclesonide/arformoterol and levalbuterol/ipratropium. Arrow will receive $1 million up front and two $35 million payments on Dec. 15 in 2009 and 2010. Arrow is eligible to receive a $20 million milestone payment upon U.S. approval for levalbuterol/ipratropium and up to $27.5 million in regulatory milestones for ciclesonide products. Arrow also is eligible for single-digit royalties on both products, with escalating royalties for levalbuterol/ipratropium products.
Sepracor markets levalbuterol products, including Xopenex and Xopenex HFA, to treat and prevent bronchospasm in patients with reversible obstructive airway disease. Boehringer Ingelheim GmbH (Ingelheim, Germany) markets Atrovent ipratropium for maintenance treatment of bronchospasm associated with chronic obstructive pulmonary disease (COPD). Sepracor markets Omnaris ciclesonide nasal spray to treat seasonal allergic rhinitis. Earlier this year, Nycomed Group A/S (Zurich, Switzerland) granted Sepracor exclusive U.S. rights to develop and commercialize ciclesonide (see BioCentury, Feb. 4). ...