Sanofi gets rights to SkyePharma's Flutiform in Mexico, Central and South America
UK-based SkyePharma (LSE: SKP) says it has entered into an exclusive development, license and marketing agreement with French drug major Sanofi (Euronext: SAN) in Mexico, Central and South America for Flutiform (a fixed dose combination of fluticasone, an inhaled corticosteroid, and formoterol, a long-acting beta agonist), its lead development product for the treatment of asthma.
As a result of the accord, SkyePharma is eligible for initial, approval and sales milestones potentially worth several million US dollars and a high single digit percentage royalty on net sales. Further financial terms were not revealed.
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