News and Announcements
SUDA Signs Exclusive Licence & Supply Agreement with Leading Global Pharma Company Teva
- Published July 05, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
SUDA (ASX: SUD), a leader in oro-mucosal drug delivery, today announced that it has entered into an exclusive licence and supply agreement with Teva Pharmaceuticals International Gmbh.
KEY TAKEAWAYS:
- An affiliate of Teva Pharmaceuticals Industries Limited, for SUDA’s novel ZolpiMist™ oral spray of zolpidem tartrate to treat insomnia in multiple countries.
- Teva is a leading global pharmaceutical company and the world’s largest generic medicines producer.
- SUDA has granted Teva a license to ZolpiMist in Brazil, Mexico and Chile, together with an 18-month option to license the product in Argentina, Israel and Australia.
- Under the terms of the agreement, Teva will assume responsibility for development, regulatory and commercial activities for ZolpiMist in the territory.
- SUDA will supply the product to Teva at cost plus agreed handling fee.
- The parties will work together through a Joint Management Committee to maximise the commercial opportunity for ZolpiMist in the territory.
Mr Stephen Carter, CEO of SUDA, said: “SUDA is committed to its strategy of partnering with leading companies to commercialise its pipeline of novel oral sprays. We are proud to be partnering with Teva, a major pharmaceutical company, to bring ZolpiMist to market in Latin America, Israel and Australia. Teva has the commercial capabilities to take advantage of ZolpiMist’s unique profile within the insomnia market. This agreement is another step towards our goal of bringing this new treatment option to patients in countries beyond the US and Canada”.
SUDA Ltd (ASX: SUD) is a drug delivery company utilising its proprietary OroMist® oro-mucosal drug delivery technology to develop low-risk, innovative pharmaceuticals that improve the health and lifestyle of patients.
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