KV Pharmaceutical Company (NYSE: KV.A/KV.B) has entered into an agreement with California-based VIVUS, Inc. (NYSE: VVUS)for the purchase of U.S. marketing rights to EvaMist™.
EvaMist™, currently completed Phase III clinical trials, is a novel new estrogen transdermal spray developed to deliver estradiol in a convenient easy-to-use dosage form for the treatment of vasomotor symptoms associated with menopause.
The terms of agreement include the following cash transactions:EvaMist™ is a small, hand-held, simple-to-use transdermal spray that is designed to provide an easy and convenient means to deliver a preset dose of estradiol via the skin.
EvaMist™ is placed gently against the skin and an actuator button is pushed, releasing a light transdermal spray containing a proprietary formulation of estradiol. Estradiol is released into the blood stream on a sustained basis over 24 hours.
EvaMist™ is fast-drying, non- irritating and invisible after application.
- KV will pay $10 million at closing and an additional payment of approximately $140 million at the time of final approval from the FDA.
- There are also two, one-time milestone payments tied to the net sales of the product: $10 million will be paid if the product achieves $100 million in net sales in a market year and up to $20 million will be paid if the product achieves $200 million in net sales in a market year.
EvaMist™, once approved by the USFDA, will significantly augment the women's health offerings of KV's branded subsidiary, Ther-Rx Corporation.
Read the full press release.
very interesting innovative medical supply. hope testing will be successfull and our women can get high quality remedy
Posted by: Larry | April 9, 2007 4:11 AM | Permalink to Comment