Endo International plc ENDP (TSX:
ENL), announced today the acquisition of rights to Natesto™ (testosterone
nasal gel), the first and only testosterone nasal gel for replacement therapy
in adult males diagnosed with hypogonadism, from Trimel BioPharma SRL, a
wholly-owned subsidiary of Trimel Pharmaceuticals Corporation TRL.
Natesto™ was approved by the U.S. Food and Drug Administration (FDA) in May
of 2014.
Under the terms of the agreement Trimel will receive an upfront payment of $25
million and could receive additional payments upon the achievement of certain
regulatory and sales milestones. Additionally, Trimel will be responsible for
the manufacture and supply of Natesto™ and Endo will pay a tiered supply
price for the product. Endo expects the transaction to close in early 2015.
"We are pleased to acquire the rights to Natesto™ to further enhance our
branded pharmaceutical portfolio and look forward to leveraging our commercial
expertise in the areas of men's health and urology to support this highly
differentiated product," said Rajiv De Silva, President and CEO of Endo.
"Natesto™ offers a unique intranasal delivery system which will expand
options for appropriate patients seeking testosterone replacement therapy and
we are focused on getting Natesto™ to market as expeditiously as possible."
Under the terms of the agreement, Endo receives sole and exclusive commercial
rights to the Natesto™ product in the US and Mexico. In addition, Endo will
collaborate on all regulatory and clinical development activities in
coordination with Trimel.
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