Grünenthal has entered into a strategic licensing agreement whereby Apotex will have the exclusive Canadian rights to Qutenza®, a topical, non-systemic, non-opioid pain patch indicated for the management of neuropathic pain.
Under the agreement, Searchlight Pharma, Apotex's Specialty Pharma Division, will pursue marketing authorization for Qutenza® and market and distribute Qutenza® in Canada upon regulatory approval. Grünenthal will receive an upfront payment in addition to regulatory milestone payments and royalties.
Grünenthal acquired the global rights to Qutenza® in 2018 as part of its growth strategy. Since 2017, the company has invested more than €2 billion in successful M&A transactions and continues to generate additional value by integrating the acquired brands into Grünenthal's infrastructure, creating synergies throughout manufacturing, logistics, and commercial activities.
"We have continuously developed Qutenza® to expand its footprint and reach more patients in need – most notably through a relaunch and label extension in the US," says Jan Adams, Chief Commercial Officer (CCO) at Grünenthal. "Apotex's exceptional commercial capabilities make them the ideal partner for us to tap into the Canadian market, one of the largest pharmaceutical markets in the world. We look forward to serving Canadian patients with this non-systemic, non-opioid treatment option and moving closer to our vision of a world free of pain."
"Licensing the Canadian rights to Qutenza® enables us to improve the lives of Canadians by increasing the options for advanced pain management, specifically by bringing to Canada a differentiated and novel agent for the treatment of neuropathic pain that is already commercialized in the EU and US markets," said Mark Nawacki, President of Searchlight. "This agreement demonstrates our continued momentum along our Journey of Health growth strategy and our dedication to enhancing patient care."
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