Upsher-Smith acquires Dr. Reddy's neurology-branded products
Dr. Reddy’s has closed its previously announced transaction with Upsher-Smith for Zembrace and Symtouch (sumatriptan injection) 3 mg and Tosymra (sumatriptan nasal spray) 10 mg.
Under the agreement, Dr. Reddy’s sold its U.S. and select territory rights for Zembrace SymTouch and Tosymra, which were commercialized through its wholly-owned subsidiary, Promius Pharma. Both medications are indicated for the acute treatment of migraine with or without aura in adults.
"More than 36 million Americans suffer from migraines, and Upsher-Smith is proud to be diversifying our portfolio with two products that can bring pain relief to a significant number of patients suffering from acute migraine," Upsher-Smith president and CEO Rusty Field said. "We will be working diligently to ensure the smooth delivery of Zembrace SymTouch to patients and to prepare for the launch of Tosymra, which we expect to take place toward the end of 2019."
The addition of Tosymra and Zembrace SymTouch rounds out Upsher-Smith's migraine product portfolio. The company currently offers Qudexy XR (topiramate) extended-release capsules, a once-daily treatment for use in the prevention of migraine headache in adults and adolescents age 12 years old and older.
Dr. Reddy’s previously announced that it will receive $70 million as upfront consideration, $40.5 million in near term milestones and additional financial considerations, including existing contractual obligation and inventory. Subsequently, Dr. Reddy’s will receive sales-based royalties on a quarterly basis.
Under the agreement, Dr. Reddy’s sold its U.S. and select territory rights for Zembrace SymTouch and Tosymra, which were commercialized through its wholly-owned subsidiary, Promius Pharma. Both medications are indicated for the acute treatment of migraine with or without aura in adults.
"More than 36 million Americans suffer from migraines, and Upsher-Smith is proud to be diversifying our portfolio with two products that can bring pain relief to a significant number of patients suffering from acute migraine," Upsher-Smith president and CEO Rusty Field said. "We will be working diligently to ensure the smooth delivery of Zembrace SymTouch to patients and to prepare for the launch of Tosymra, which we expect to take place toward the end of 2019."
The addition of Tosymra and Zembrace SymTouch rounds out Upsher-Smith's migraine product portfolio. The company currently offers Qudexy XR (topiramate) extended-release capsules, a once-daily treatment for use in the prevention of migraine headache in adults and adolescents age 12 years old and older.
Dr. Reddy’s previously announced that it will receive $70 million as upfront consideration, $40.5 million in near term milestones and additional financial considerations, including existing contractual obligation and inventory. Subsequently, Dr. Reddy’s will receive sales-based royalties on a quarterly basis.