Q-Med gets $29.1M from Medicis

Due to the US Food and Drug Administration's approval of the cosmetic filler Perlane (hyaluronic acid), Swedish biotechnology firm Q-Med has received $29.1 million from its local licensee Medicis. The payment is the last additional purchase sum from their 2006 agreement which has generated $160.0 million in total. Furthermore, Q-Med has exclusive manufacturing rights for the North American market for 10 years.

In connection with the payment, the previous provision of 34.5 Swedish kronor ($5.1 million) for R&D costs will be reversed. The first deliveries of Perlane will soon be made, according to Q-Med.