Javelin signs $71M deal on Dyloject

Javelin Pharmaceuticals of the USA has entered into an exclusive European marketing partnership for Dyloject (diclofenac sodium for  injection) with Therabel Pharma, a privately-held Brussels,  Belgium-based drugmaker, worth up to $71.0 million in upfront, sales and  regulatory milestone payments plus a double-digit royalty on future  sales.

"Partnering Dyloject in Europe bolsters our financial resources and  extends our cash until 2010 before achieving future milestones and  potential additional product partnerships. We are retaining significant  upside in Dyloject's future European Union growth with a high quality  marketing partner, while eliminating our European commercialization  expenses," stated Martin Driscoll, Javelin's chief executive.

Noting that Therabel has demonstrated market success in hospital sales  and pain management products in the EU, Mr Driscoll added: "we believe  Therabel will accelerate market uptake for Dyloject in the UK and will  assure future growth as Therabel introduces the product in key countries  throughout the European Union."