“This agreement with NewBridge will enable sales of Abstral™ in additional geographic territories and is another step in developing Abstral™ into a global product. Our partnership with NewBridge will allow Abstral™ to be available for thousand of doctors to help them manage patients suffering breakthrough cancer pain”
Orexo AB (STO:ORX) announces today that an exclusive licensing and distribution agreement has been signed with NewBridge Pharmaceuticals for Abstral ™, Orexo´s product for the treatment of breakthrough cancer pain. The agreement grants NewBridge rights to seek approval for Abstral™ in the Middle East and Africa and, where approval is granted, to market and sell the product in these territories. The agreement covers 64 countries across the Middle East and Africa, and excludes Israel where the product is already partnered.
Under the terms of the agreement, Orexo will supply NewBridge with AbstralTM product. The agreement includes upfront, milestone and revenue sharing payments; the detailed financial terms are not being disclosed. NewBridge will also be responsible for managing the regulatory approval process and for commercialisation in each of the relevant countries.
Torbjörn Bjerke President and CEO of Orexo
"This agreement with NewBridge will enable sales of Abstral™ in additional geographic territories and is another step in developing Abstral™ into a global product. Our partnership with NewBridge will allow Abstral™ to be available for thousand of doctors to help them manage patients suffering breakthrough cancer pain".
Joe Henein, President and CEO of NewBridge
"Abstral™ is a valuable addition to enhance our growing oncology portfolio. Across our core geographic region there are many markets with strong economic growth and increased demand for improved health care and more effective products. We strongly believe that Abstral™ has a great potential in the territory and will contribute significantly to the physicians' abilities to treat patients experiencing breakthrough cancer pain, hence improving quality of life for these patients".
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