Medeva Gets Rights to Multi-Dose Inhalers
UK pharmaceutical firm Medeva (see also page 3) has gained exclusive European distribution rights for a multi-dose dry powder inhaler device from a subsidiary of ML Laboratories, Innovata Biomed, for the delivery of salbutamol and beclomethasone.
Medeva is paying L2 million ($3.1 million) in cash with up to a further L5 million payable upon achievement of certain milestones. Following launch, royalties will be payable to ML by Medeva.
"This agreement adds another important element to our respiratory portfolio and offers a very attractive business opportunity in a growing market," commented chief executive Bill Bogie.
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