Sosei Group Corporation ("Sosei"; TSE Mothers Index: 4565), the biopharmaceutical company, today announced that Sosei Co., Ltd., its wholly owned Japanese subsidiary, has entered into a definitive distribution agreement with ASKA Pharmaceuticals Co., Ltd. ("ASKA", TSE First Section Index: 4514) for the commercialisation of the emergency contraceptive pill SOH-075 (NorLevo(R)).
NorLevo(R) is an oral emergency contraceptive "morning after pill" which is used to prevent unwanted pregnancy after unprotected intercourse. NorLevo(R) contains only levonorgestrel as an active ingredient. The dosing is started within 72 hours after unprotected sexual intercourse. NorLevo(R) was first launched in Europe in 1999 and is currently approved in some 60 countries, the product being both safe and effective as an oral emergency contraceptive for post-coital use.
Sosei have acquired the exclusive distribution rights to the product in Japan from HRA Pharma. The NDA application for SOH-075 was submitted in Japan in September 2009.
The agreement is based on the terms of a binding letter of agreement that was announced on 22 October 2008. According to this agreement, Sosei is responsible for development and registration and ASKA for sales and marketing.
In accordance with the agreement, Sosei will receive upfront, milestone payments as well as a margin on product sales to ASKA.