Titan and Novartis extend Zomaril agreement

The antipsychotic agent Zomaril (iloperidone), which is currently in aPhase III development program, is to be jointly developed and commercialized in Japan by Titan Pharmaceuticals and Novartis Pharma after the two firms entered into an agreement last week which builds on a previous deal involving the worldwide development, manufacturing and marketing of the drug outside Japan. In exchange for the rights to Zomaril in Japan, Titan will receive license fees and milestone payments, in addition to royalties on product sales consistent with the previous agreement.