Date: 2011-01-24
Type of information: Distribution agreement
Compound: Veregen® ointment (made from the extract of green tea leaves - catechins)
Company: MediGene (Germany) Meditrina Pharmaceuticals (Greece)
Therapeutic area: Gynecology - Infectious diseases
Type agreement: commercialisation
distribution
Action mechanism:
Disease: External genital warts
Details: Medigene and its existing partnership with Meditrina Pharmaceuticals have expanded their agreement for the commercialization of Veregen® Ointment to include Romania and Bulgaria. The previous agreement had been concluded for the commercialization of Veregen® in Greece and Cyprus. According to the new agreement, Meditrina will (via its subsidiary Solartium) promote and distribute the drug for the treatment of genital warts in both Romania and Bulgaria.
Financial terms: In sum, MediGene is entitled to successive payments of up to € 1.2 million for the four countries (previously agreed: € 900,000), depending on the achievement of set milestones. Furthermore, MediGene will supply Meditrina with drug product and obtain royalties on the sales revenue generated with Veregen® in the form of a double-digit percentage share.
MediGene has already entered into several marketing partnerships for Veregen®, for example with Nycomed, Inc. for the USA, with Abbott for Germany, Austria, and Switzerland, with Laboratoires Expanscience for France, with Juste S.A.Q.F. for Spain and Portugal and with a number of other partners across Europe and Asia. MediGene is planning to continue this global licensing strategy.
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