Ligand Signs License Agreement with Ethicor for Oral Lasofoxifene
News Jul 26, 2013
Ligand Pharmaceuticals Incorporated has announced the signing of a license agreement with Ethicor Pharma Ltd. for the manufacture and distribution of the oral formulation of lasofoxifene in the European Economic Area, Switzerland and the Indian Subcontinent.
Under the terms of the agreement, Ligand is entitled to receive potential sales milestones and a double digit royalty on future net sales.
Ethicor plans to supply oral lasofoxifene as an unlicensed medicinal product, which may be requested by healthcare professionals to meet the clinical needs of patients when authorized medicines are unsuitable or contraindicated.
In the European Union, there are approximately 37 million women suffering with osteoporosis.
“This agreement with Ethicor represents another potentially valuable shot-on-goal for Ligand, and our second license agreement for lasofoxifene this week,” commented John Higgins, President and Chief Executive Officer of Ligand.
Higgins continued, “Osteoporosis represents a large unmet medical need for women, and we are pleased that lasofoxifene could potentially provide women with an additional treatment option. We are pleased to be partnered with Ethicor on this important program, and we believe they are uniquely qualified to commercialize this product in this specialized market.”