Richter Signs Pact With Recordati for Marketing Cariprazine Drug
August 02 2016 - 3:11AM
Dow Jones News
By Margit Feher
BUDAPEST--Hungary's largest drug maker Richter Gedeon Nyrt. said
on Tuesday that it has signed an exclusive license agreement with
Italian drug firm Recordati for marketing Richter's antipsychotic
drug cariprazine to treat bipolar mania and schizophrenia in
Western Europe, Algeria, Tunisia and Turkey.
Recordati will make an upfront payment on the signing of the
contract, while further milestone payments will be made depending
on the progress of both the regulatory procedure and the
commercialization of the product, the two companies said in a joint
statement. Richter will receive further sales-related royalties
following the launch of the product.
Cariprazine is Richter's original product and is licensed to
U.S. pharmaceuticals company Allergan in the U.S. and Canada. The
product was launched in the U.S. in March 2016 under the trademark
of Vraylar for the treatment of both bipolar mania and
schizophrenia after the U.S. Food and Drug Administration gave its
approval in September 2015.
The European Medicines Agency started the evaluation of
Richter's marketing authorisation application for cariprazine for
the treatment of schizophrenia in March 2016.
Under the agreement with Recordati, Richter will be responsible
for conducting pediatric clinical studies of the drug, according to
the Pediatric Investigation Plan, as required by the EMA's
Paediatric Committee, which it will co-finance with Recordati, the
companies added.
Write to Margit Feher at margit.feher@wsj.com; Twitter:
@margitfeher
(END) Dow Jones Newswires
August 02, 2016 02:56 ET (06:56 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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