Optimer Pharmaceuticals, Inc
) recently announced that it is set to receive €10 million in
milestone payments from Astellas Pharma, Inc. for the first sales
of Dificlir (fidaxomicin) tablets in Europe. As per the 2011
agreement, Astellas was granted the rights to develop and
commercialize Dificlir in Europe and certain other countries.
Optimer is eligible to receive milestone payments of up to $224
million including a $68 million upfront cash payment as per the
2011 collaboration and license agreement with Astellas. Astellas
will pay tiered double-digit royalties on net sales of Dificlir. As
per the deal, Astellas will bear all costs related to the
development, manufacturing and commercialization of the product in
the covered areas.
Dificlir was approved in Europe in December 2011 for the
treatment of adults with clostridium difficile infections (CDI).
The product is sold in the US under the trade name, Dificid, for
treating patients suffering from clostridium difficile-associated
diarrhea (CDAD) and is currently under priority review in Canada.
In the first quarter of 2012, Optimer recorded Dificidsales of
In March 2012, Optimer entered into another collaboration and
license agreement with Astellas Japan. Astellas was granted
exclusive, royalty-bearing license and intellectual property to
develop and commercialize Dificlir in Japan.
The sole marketed product at Optimer is Dificid. Even though the
European approval of the drug should aid sales, we remain concerned
about Optimer's dependence on a single product for growth. We
believe the company lacks a decent pipeline candidate.
Currently, we have a Neutral stance on Optimer in the long run.
The company carries a Zacks #3 Rank ("Hold" rating) in the short
OPTIMER PHARMAC (OPTR): Free Stock Analysis
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