Under the agreement, Dr. Reddy’s will receive U.S.$70 million as upfront consideration, U.S.$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.
The closing of the transaction is subject to various customary closing conditions including antitrust review under Hart-Scott-Rodino Act.
“This is a testament to our strong R&D capabilities, and delivering solutions to unmet needs of patients. In a short time, we created a well-recognized migraine specialty business in the US and we look forward to our partnership with Upsher-Smith,” said G.V. Prasad, Co-Chairman and CEO, Dr. Reddy’s Laboratories Limited.
“Tosymra and Zembrace were designed and developed with the goal of addressing unmet needs of large but discrete segments of patients suffering from episodic migraine who need options other than their current therapies. We are excited to partner with Upsher-Smith, which has established a strong presence in neurology,” said Anil Namboodiripad, Ph.D., Senior Vice President, Proprietary Products and Head, Promius Pharma.
Important Patient Safety Information for Zembrace SymTouch (sumatriptan injection) 3 mg and TOSYMRA (sumatriptan nasal spray) 10 mg.
Zembrace SymTouch and TOSYMRA can cause serious side effects, including: heart attack and other heart problems, which may lead to death.
Do not use Zembrace SymTouch and TOSYMRA if you have:
heart problems or a history of heart problems
narrowing of blood vessels to your legs, arms, stomach, or kidney (peripheral vascular disease)
uncontrolled high blood pressure
severe liver problems
hemiplegic migraines or basilar migraines. If you are not sure if you have these, ask your healthcare provider
had a stroke, transient ischemic attacks (TIAs), or problems with your blood circulation
taken any of the following medicines in the last 24 hours: almotriptan, eletriptan, frovatriptan, naratriptan, rizatriptan, ergotamines, or dihydroergotamine. Ask your healthcare provider if you are not sure if your medicine is listed above
are taking certain antidepressants known as monoamine oxidase (MAO)-A inhibitors or it has been 2 weeks or less since you stopped taking a MAO-A inhibitor. Ask your healthcare provider or pharmacist for a list of these medicines if you are not sure.
an allergy to sumatriptan or any of the ingredients in Zembrace SymTouch and TOSYMRA.
Source: Company Press Release