Novartis secures US rights to Adamis’ epinephrine auto injector
pharmafile | July 3, 2018 | News story | Manufacturing and Production, Sales and Marketing | Adamis, Novartis, Symjepi, US, auto injector, pharma
Novartis has penned an agreement with Adamis Pharmaceuticals to commercialise and distribute the latter’s epinephrine auto injector Symjepi in the US market, it has emerged.
Under the agreement, the Swiss pharma firm will be awarded the rights to the 0.3mg and 0.15mg dosages of the product, subject to FDA approval. The two firms will equally share net profits from the sale of the drug in the US, and Novartis will be eligible to receive milestone payments based on the Symjepi’s performance. As part of the deal, Adamis also paid out an upfront fee, the value of which has not been disclosed.
Adamis retains rights to the drug outside of the US, but Novartis subsidiary Sandoz will have first right of negotiation in these territories.
Symjepi is designed to act as an emergency treatment for allergic reactions, including anaphylaxis. On announcing the deal with Novartis, the San Diego-based manufacturer’s share price rocketed by 40%.
“We are very excited about our collaboration with Sandoz. They are among the top pharmaceutical companies in the world and we believe they have the commercial presence and proven track record to maximise the value of Symjepi,” commented Dr Dennis J Carlo, President and CEO of Adamis. “We believe the financial terms of this agreement have the potential to bring meaningful recurring revenue to Adamis and we look forward to growing, and possibly expanding, this partnership with Sandoz based on the future success of Symjepi in the market.”
Matt Fellows
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