The two companies have entered an agreement for commercializing a new treatment for agitation associated with schizophrenia and bipolar diseases.
The license and distribution agreement concerns commercialization of ADASUVE in the Nordic region. In Europe ADASUVE is approved for the treatment of mild to moderate agitation of patients with schizophrenia or bipolar disease.
Under the terms of the agreement, Ferrer grants to Medivir the exclusive rights to promote, market, sell and distribute ADASUVE in the Nordic region – including Denmark, Finland, Norway, Iceland and Sweden.
ADASUVE is a hand-held inhaler designed to deliver the drug to the deep lung, providing rapid systemic delivery in a simple, non-invasive manner. Medivir thus becomes the exclusive supplier of this new treatment therapy for the treatment of mild to moderate agitation of patients with schizophrenia or bipolar disease. In return, Ferrer will receive an up-front payment upon signature, and milestone payments conditional upon cumulative sales performance.
“This licensing agreement is in line with our strategy to add new products to our Nordic portfolio. ADASUVE is the first addition to the portfolio, which now consists of 16 prescription pharmaceuticals” said Mr Maris Hartmanis, Medivir’s CEO. He added, “ADASUVE is a very interesting product based on a novel administration technology addressing an unmet medical need, which expands our present offering to psychiatrists, Lithionit. We are excited about having secured the commercial rights to ADASUVE for the Nordic region and the partnership with Ferrer”.