Salix and Alfa Wassermann expand rifaximin accord
USA-based Salix Pharmaceuticals (Nasdaq: SLXP) and Italy’s Alfa Wassermann have entered into an exclusive agreement by which Salix has licensed rights in the USA and Canada to an extended intestinal release (EIR) formulation of rifaximin for gastrointestinal and respiratory indications, including Crohn’s disease.
Financial terms of the transaction include $10 million up-front and a $25 million development milestone on New Drug Application approval of an EIR formulation rifaximin product for Crohn’s disease. Salix also will pay sales-based milestones in respect of EIR formulation rifaximin products for Crohn’s disease, if sales targets are achieved, plus royalties on product sales of all EIR formulation rifaximin products. Alfa Wassermann will manufacture Salix’s requirements of EIR formulation rifaximin products.
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