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.

Under the terms of the deal, Sanofi aims to pursue marketing authorization applications for Flutiform throughout the region, including in Mexico, Brazil, Argentina, Venezuela and Colombia. The applications will be based on data included in, and subject to approval of, the European Marketing Authorization Application for Flutiform filed by Mundipharma International. Preparations continue to be made for the potential launch of Flutiform in Europe in the second half of 2011.