Apr 8 2010
Labopharm Inc. (TSX: DDS; NASDAQ: DDSS) today announced its wholly owned subsidiary, Labopharm Europe Limited, has completed a licensing and distribution agreement for once-daily tramadol with Nippon Shinyaku Co., Ltd. of Japan.
Labopharm will receive an up-front payment upon signature of the agreement and is eligible to receive additional payments related to the achievement of certain regulatory and commercialization milestones.
Under the terms of the agreement, Nippon Shinyaku has the exclusive right to market and sell Labopharm's once-daily tramadol product in Japan. Labopharm will supply Nippon Shinyaku with unpackaged tablets and will receive a fixed transfer price, as well as a royalty on net sales of the product. Regulatory approval in Japan may require additional clinical trials and Nippon Shinyaku will assume all costs related to the clinical and regulatory approval process.