BioCentury
ARTICLE | Company News

Labopharm, Angelini deal

August 29, 2011 7:00 AM UTC

In July, companies said they would terminate their JV, Angelini Labopharm LLC, and Labopharm would transfer its 50% stake in the JV to Angelini. The JV was formed in May 2010 to market major depressive disorder (MDD) drug Oleptro trazodone in the U.S. Labopharm also will grant Angelini exclusive rights to commercialize the extended-release formulation of the serotonin antagonist reuptake inhibitor (SARI) in the U.S., Canada and most ex-European territories. The deal gives Angelini exclusive, worldwide rights to the product, which was co-developed by the partners. Labopharm will be eligible for 5% royalties on net quarterly sales of Oleptro over $10 million in the U.S. In 1Q11, Oleptro had net U.S. sales of $908,000. Labopharm also will be eligible for royalties of 5% on net sales in all other countries under the new license deal.

Additionally, Labopharm said that the JV will eliminate its remaining U.S. sales force of 65 employees for Oleptro. In June, the JV reduced the sales force by 65 (50%) to 65. Oleptro will continue to be available in the U.S. ...