1 week ago
Lupin Unit Signs €75 Million European Eye-Care Deal
Lupin’s company VISUfarma made a deal to sell a medicine called YUVEZZI in several European countries.
YUVEZZI is an eye drop for adults who have trouble seeing things up close.
This problem is called presbyopia and often begins around age 45.
The eye drop uses two ingredients to help the eye focus.
The deal could be worth as much as €75 million before the medicine begins selling.
VISUfarma will work on approvals, advertising, distribution and sales.
YUVEZZI has already been approved by the US Food and Drug Administration.
The companies are also seeking approval in the United Kingdom and other European markets.
Lupin subsidiary VISUfarma signed an exclusive agreement with Visus Therapeutics to commercialize YUVEZZI in European markets.
The deal covers the European Union, United Kingdom, Switzerland, Norway and Iceland.
Potential consideration before initial commercial sales totals up to €75 million, including a €20 million investment and milestone payments of up to €55 million.
YUVEZZI is a once-daily eye drop for adults with presbyopia, which reduces the ability to focus on nearby objects.
VISUfarma will manage regulatory activities, marketing, distribution and sales, while Tenpoint Therapeutics prepares the US launch.
- Who
- Lupin subsidiary VISUfarma and US-based Visus Therapeutics signed the agreement; Tenpoint Therapeutics is Visus’s parent company.
- What
- An exclusive licensing agreement to commercialize the YUVEZZI eye treatment in European markets.
- Where
- The European Union, United Kingdom, Switzerland, Norway and Iceland.
- When
- Why
- To expand VISUfarma’s vision-care and specialty-care business and widen access to a treatment for presbyopia.
Key facts
- Potential deal value
- Up to €75 million before first commercial sales
- Investment component
- €20 million through a Simple Agreement for Future Equity instrument
- Milestone payments
- Up to €55 million after regulatory and commercial milestones
- Product
- YUVEZZI, a once-daily eye drop for adults with presbyopia
- Ingredients
- Carbachol and brimonidine tartrate
- Commercial territories
- European Union, United Kingdom, Switzerland, Norway and Iceland
- License term
- Valid in each country until 20 years after first commercial sale, with possible five-year renewals
Sources
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