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Cipher Pharmaceuticals Announces Amended Distribution and Supply Agreement for Absorica®
Cipher Pharmaceuticals Announces Amended Distribution and Supply Agreement for Absorica&#x...
About this update from Cipher Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCipher Pharmaceuticals Announces Amended Distribution and Supply Agreement for Absorica®\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, July 30, 2018\n\n\n\nAgreement expanded to include a portfolio of novel isotretinoin productsNew portfolio royalty extends through December 2024\n\n\nMISSISSAUGA, ON, July 30, 2018 /CNW/ - Cipher Pharmaceuticals Inc. (TSX:CPH) (\"Cipher\" or \"the Company\") today announced that it has amended its distribution and supply agreement (the \"Amendment\") with Sun Pharmaceutical Industries, Inc. (\"Sun\") (previously Ranbaxy Laboratories Inc.) for Absorica®, an innovative formulation of the active ingredient isotretinoin, which is used in the treatment of severe acne. Under the original agreement, entered in August 2008, Cipher granted Sun the exclusive right to market, sell and distribute Absorica in the United States (\"U.S.\"). Absorica was launched in the U.S. market in November 2012. \n\n\n\nKey highlights of the Amendment include:\n\n\nProvides Sun with the ability to launch new isotretinoin products developed by or on behalf of Sun in the U.S. prior to the expiration of the agreement in November 2022;\nExpands the agreement to include a royalty payable to Cipher until December 2024 based on U.S. net sales from Sun's isotretinoin product porfolio; and\nAbsorica New Drug Application (NDA) will be returned to Cipher on expiry of the agreement in November 2022.\n\n\"Sun has been a strong partner on Absorica and we're pleased to reach an agreement on changes aimed at achieving our shared objective of continuing the marketing of Absorica and bringing innovative new isotretinoin products to the U.S. market,\" said Robert Tessarolo, President and CEO of Cipher. \"This is a significant milestone for Cipher, providing the opportunity to maximize our total cumulative revenues from Absorica and other isotretinoin products. At the same time, we continue to execute our strategy to aggressively grow our Canadian commercial business. Based on transaction activity t...