Medivir, Valeant Pharmaceuticals, Meda sales and marketing update

Medivir and Meda amended a 2010 commercialization deal for Medivir's Xerese to treat herpes simplex labialis (cold sores) to grant Meda full rights to the product in North America plus exclusive U.S. rights to treat genital herpes. Under the amended terms, Medivir will receive a $45 million payment from Meda, and is eligible to receive a $10 million regulatory milestone payment triggered by FDA approval for genital herpes, plus royalties. AstraZeneca plc (LSE:AZN; NYSE:AZN, London, U.K.), which held the original patent on the topical cream combining acyclovir and hydrocortisone, will receive an undisclosed payment (see BioCentury, Feb. 22, 2010 & March 7, 2011).

Meda is responsible for the development of Xerese to treat genital herpes in the U.S. Medivir retains full commercial rights outside the U.S. and Meda will be eligible for royalties. ...