Dr. Reddy’s to sell U.S, Canada territory rights of anti-migraine drug
The Hindu
Signs definitive agreement with BioDelivery Sciences International Inc
Dr. Reddy’s Laboratories on Wednesday said it has entered into a definitive agreement to sell its U.S. and Canada territory rights for Elyxyb (celecoxib oral solution) 25 mg/mL to BioDelivery Sciences International Inc (BDSI). Previously known as DFN-15, Elyxyb is indicated for the acute treatment of migraine with or without aura in adults. Under the terms of agreement, Dr. Reddy’s will receive $6 million upfront upon closing followed by $9 million one year from closing. Further, it is eligible to receive event-based, sales-based milestones and quarterly earn-out payments, Dr. Reddy’s said in a release on Wednesday. CEO Erez Israeli said “we are confident in BDSI’s expertise and believe in their ability to realise the full potential of Elyxyb.”
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