Optimer Pharmaceuticals, Inc
) recently announced an agreement with Specialised Therapeutics
Australia Pty, Ltd. to register and commercialize fidaxomicin
tablets in Australia and New Zealand.
As per the deal, Specialised Therapeutics will make milestone
payments to Optimer on the achievement of net sales targets.
Additionally, Optimer will be paid for supplying fidaxomicin to
Specialised Therapeutics. Moreover, Specialised Therapeutics will
bear the registration and commercialization costs of the tablets in
Australia and New
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 Dificid sales of
Besides, the product was approved in Europe in December 2011 for
the treatment of adults with clostridium difficile infections (CDI)
under the trade name, Dificlir. In early June, Optimer announced
that the company is set to receive €10 million in milestone
payments from Astellas Pharma, Inc. for first sales of Dificlir
tablets in Europe.
In March 2012, Optimer entered into another collaboration and
license agreement for Dificlir. Under this deal, the company
granted exclusive, royalty-bearing license and intellectual
property to Astellas Japan for the development and
commercialization of Dificlir in Japan.
We believe that the agreement with Specialised Therapeutics
Australia will boost the company's current cash balance. Optimer
exited the first quarter of 2012 with cash, cash equivalents, and
short-term investments of $71 million.
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 long-term stance on Optimer. The
stock carries a Zacks #3 Rank ("Hold" rating) in the short run.
OPTIMER PHARMAC (OPTR): Free Stock Analysis
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