Romark and Chugai Enter Into Exclusive Licensing Agreement for Nitazoxanide in Japan
News Feb 19, 2009
Romark Laboratories and Chugai Pharmaceutical Co. Ltd. have announced that the two companies have entered into an exclusive license agreement for the development and commercialization of nitazoxanide as a treatment of chronic hepatitis C in Japan.
Under the terms of the agreement, Chugai has paid an upfront payment to Romark, and will make additional payments based on the achievement of certain clinical and regulatory milestones. Romark will participate in profits from product sales in Japan through a supply agreement and royalties.
"Chugai is an excellent partner for us in Japan. They bring substantial expertise in the development and marketing of treatments for chronic hepatitis C exemplified by their experience with Pegasys® and Copegus®," said Jean-Francois Rossignol, M.D., Ph.D., Chairman and Chief Science Officer of Romark Laboratories, and inventor of the thiazolides. "This agreement is an important step in accelerating the worldwide development and commercialization of nitazoxanide for treating this disease."