By RTT News,
January 14, 2014, 01:28:00 AM EDT
(RTTNews.com) - French pharmaceutical company Ipsen SA (IPSEY.PK) announced Tuesday an exclusive agreement with GW Pharmaceuticals plc (GWPH, GWP.L), under which Ipsen would promote and distribute Sativex, a sublingual cannabis extract spray intended for the treatment of spasticity due to multiple sclerosis or MS in Latin America, excluding Mexico and the Islands of the Caribbean.
Financial terms include an upfront payment to GW Pharmaceuticals, regulatory and commercial milestone payments, and a long term supply price.
GW, a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, will be responsible for commercial product supply to Ipsen.
Sativex is already approved in 24 countries, principally in Europe, as a treatment of spasticity due to multiple sclerosis. The drug is indicated as an add-on treatment for symptom improvement in patients with moderate to severe spasticity who have not responded adequately to other anti-spasticity medication. Sativex is also currently in a global Phase III program for the treatment of cancer pain.
Ipsen said that both companies aim to start regulatory filings in selected countries in Latin America during 2014 for the MS spasticity indication. The rights granted to Ipsen cover spasticity due to MS and also cover the future potential cancer pain indication.
Sativex is already licensed to Otsuka Pharmaceutical Co., Ltd in the United States; to Almirall S.A. in Europe, excluding the UK, and Mexico; to Bayer in the UK and Canada; to Novartis in Australasia, Asia, excluding China and Japan, the Middle East, excluding Israel, and Africa; and to Neopharm in Israel.
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