Cipla grants global rights to Meda for nasal spray 'Dymista'
New Delhi: Drug major Cipla Wednesday said it has granted the global commercialisation rights for its nasal spray 'Dymista' to Swedish partner Meda AB except for certain geographies.
The two companies said they have extended an existing partnership for development under which Meda will have full coverage in all growth markets in Latin-and South America, Middle East and Africa and Asia, including more than 120 new markets for the nasal spray prescribed for allergic rhinitis.
"Cipla and Meda will build further on the existing collaboration by granting Global commercialisation rights to Meda for Dymista, excluding some markets for which Cipla will take the commercial lead," Cipla Ltd said in a statement.
When contacted, a spokesperson for Cipla declined to comment on the geographies where the Indian partner will have the rights and also on the financials involved in the deal.
Under their extended agreement, both partners will collaborate on follow-up compounds for Dymista, capitalising on intellectual property retained by both partners, Cipla said.
Commenting on the development, Meda CEO Anders Lonner said: "Through this expanded partnership, we secure opportunities for global commercialisation of Dymista and optimise future product development."
The company sees a great potential in several priority growth markets such as China for the nasal spray, he added.
As per the pact between the two companies, Cipla will be responsible for formulation, while Meda will be responsible for clinical development, registration, marketing and sales, the company said.
The partners will also collaborate on future production of Dymista and any new products developed, it said.
Cipla Global CEO Subhanu Saxena said: "We are very pleased to announce the new agreement with Meda, who is our strategic partner in the area of Allergic Rhinitis."
Dymista was approved in the US in May 2012 and in Europe in January 2013.
"Through the extended partnership, Meda now have full coverage in all growth markets in Latin-and South America, Middle East and Africa and Asia, including more than 120 new markets," Meda said in a statement.
Both the companies will cooperate on product development of Dymista, it added.
Cipla and Meda had first entered into an agreement over Dymista in 2006 for US market. They again teamed up for Europe market in 2009 for the same medicine.
Earlier in the day, Meda denied that it was in talks with any potential buyer following reports of the firm having discussions with Sun Pharmaceutical Industries for a USD 5 billion stake sale.