Ipsen and Galderma in botulinum toxin deal
French drugmaker Ipsen and specialty pharmaceutical group Galderma, which is co-owned by L'Oreal and Nestle, have entered into a partnership which will focus on the development, promotion and distribution of the former's botulinum type A toxin for use in asthetic medicine indications.
Under the terms of the deal, Ipsen has granted Galderma exclusive rights to develop and market a specific formulation of the drug in the European Union, Russia and certain territories in the Middle East and eastern Europe. In return, Galderma will pay an upfront fee of 10.0 million euros ($13.2 million), up to 20.0 million euros in development-based milestones and royalties on product sales.
In addition, Ipsen will supply its partner with the finished product at a fixed price. Further financial terms of the accord, which is due to run until 2019, were not provided.
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