Tuesday, February 14, 2006

Replidyne & Forest Labs Reach Agreement

Replidyne, Inc., and Forest Laboratories, Inc. (NYSE: FRX) announced that the two companies have entered into an agreement for the commercialization, development and distribution of Replidyne's new oral antibiotic, faropenem medoxomil, in the United States. Under the terms of the agreement, Forest will make a $50 million upfront payment to Replidyne as well as potential future milestone payments. In addition, Replidyne will receive royalty payments based on faropenem medoxomil sales. Forest and Replidyne will jointly oversee the development and regulatory approval of faropenem medoxomil and share all expenses for current and future development programs. Forest will be primarily responsible for sales and marketing of faropenem medoxomil. Replidyne also has an option to market and promote the product to pediatricians upon FDA approval of a pediatric formulation.

No comments: