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Article: SkyePharma Signs First Horizon To Potential $50M Marketing Deal.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BioWorld International Correspondent
LONDON - SkyePharma plc announced an exclusive U.S. sales and marketing agreement with First Horizon Pharmaceutical Corp. for a cardiovascular product that could total $50 million in milestone payments, plus 25 percent of net sales. The product is under review by the FDA, with approval expected by the end of this year.
Michael Ashton, CEO of SkyePharma, told BioWorld Today: "We are delighted. We will receive $20 million in 2004, up to FDA approval, followed by $30 million in sales-related milestones, and from day one will get 25 percent net on sales. Our strategy is to look for a larger share of end sales, and we have ...