“I am pleased to announce this partnership, which is a powerful validation of the product and represents the first step for the global commercialization of our cold sore product”
Medivir (STO:MVIRB) and Meda today announced an agreement for the commercialization of Medivir’s cold sore product which will be marketed in North America under the trade name Xerese™.
Under the terms of the agreement, Meda is granted the exclusive rights to market, sell and distribute Xerese™ in the United States, Canada and Mexico for the treatment of cold sores (herpes labialis). In addition to funding the commercial development of Xerese™, Meda will pay USD 5 million in up-front and pre-launch milestones and double-digit royalties on sales to Medivir for the exclusive rights.
Xerese™ – a combination product of acyclovir and hydrocortisone - was granted FDA marketing approval in July 2009. Based on strong clinical data, Xerese™ was given a label, which differentiates it from other topical cold sore products currently on the market.
“I am pleased to announce this partnership, which is a powerful validation of the product and represents the first step for the global commercialization of our cold sore product,” said Ron Long, Medivir’s CEO, and continued, “Meda’s demonstrated leadership in marketing pharmaceutical products and understanding US market dynamics, make them the ideal partner for Xerese™. We are convinced that Meda will make the new product a success," Ron Long concluded.
“Xerese™ is a very interesting addition to our product portfolio in the US. It’s already registered and has a unique and differentiating claim. When commercial stock is in place we will launch it. We look forward to the collaboration with Medivir and that we together can develop new indications for Xerese™”, says Anders Lönner CEO at Meda.