News and Announcements
Aytu BioScience is given exclusive licensing rights to ZolpiMist in North America
- Published June 23, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Magna Pharmaceutical’s ZolpiMist is giving exclusive selling rights to Aytu BioScience in the North American Markets.
- Sleep Aids in the US account for a $1.8 billion market.
- SUDA Pharmaceuticals retains licensing rights to rest of world.
- ZolpiMist addresses the short-term treatment of insomnia patients.
Magna Pharmaceuticals Inc. has exclusively licensed their product, ZolpiMist, in the USA and Canada. ZolpiMist is an oral spray form of zolpidem tartrate, used for the short-term treatment of insomnia. SUDA Pharmaceutical, a drug delivering company, focused on oro-mucosal administration and located in Western Australia, has the exclusive global license to ZolpiMist, excluding, the USA and Canada.
Insomnia is the most common sleep disorders, with prescriptions for sleep aids in the US at $1.8 billion from February 2017 to February 2018. ZolpiMist is FDA-approved and offers an alternative with rapid absorption of the drug through the oral mucosa. SUDA Pharmaceuticals has announced that licensing for ZolpiMist in the USA and Canada is going to Aytu BioScience, Inc. Aytu is a pharmaceutical company focused on commercialisation of novel products addressing significant medical needs.
By having Aytu license ZolpiMist in the USA and Canada, SUDA has a more secure chance of partnering and commercialising the product in the rest of the world. Aytu hopes to generate revenue and complement their successful company portfolio.
About SUDA Pharmaceuticals (ASX: SUD)
SUDA Pharmaceuticals Ltd (ASX: SUD) is a drug delivery company focused on oro-mucosal administration, headquartered in Perth, Western Australia.
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