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Jan 26th, 2024
Jan 26th, 2024
Egalet Corporation has announced a collaboration agreement with Teva Pharmaceutical Industries Ltd to commercialise SPRIX Nasal Spray in regions outside the United States.
Egalet, a specialist in developing treatments for pain and other conditions, will grant Teva exclusive marketing and commercialisation rights to the ketorolac tromethamine spray in Israel, Gaza and the West Bank.
Teva, the leading pharmaceutical company, will be tasked with registering, marketing, distributing and selling the product in these territories.
Bob Radie, president and chief executive officer of Egalet, said the partnership showcased both companies’ “commitment to delivering effective, unique pain medicines”.
“It leverages the regional commercial expertise of Teva,” he added. “Our agreement with Teva represents a significant milestone for our company as it is our first distribution agreement outside the US for SPRIX Nasal Spray and the first step to expanding the global reach of our commercial products. We will continue to seek out these types of collaborations so that we can deliver our novel treatment options to patients across the globe.”
As part of the agreement, Egalet will receive an undisclosed upfront payment and sales-based milestones. The company will also gain a share in the profits from net sales of SPRIX in the select geographical territories.