TORONTO, Aug. 5, 2024
/CNW/ - Apotex Inc. ("Apotex"), the largest
Canadian-based pharmaceutical company, today announced an agreement
with Formosa Pharmaceuticals ("Formosa") under which Apotex
has the exclusive rights to market and distribute APP13007
(clobetasol propionate ophthalmic suspension, 0.05%)
in Canada upon approval. The
agreement further expands Apotex's ophthalmic
franchise, building off a licensing agreement with Harrow
Inc. for five branded pharmaceutical products completed in
February 2024.
APP13007 is a novel eyedrop derived from Formosa's proprietary APNT™ nanoparticle
formulation platform and utilizes a super potent corticosteroid.
Apotex will be responsible for obtaining marketing authorization
for APP13007 in Canada.
Formosa will receive certain
payments under the agreement, including an upfront payment and
milestone payments upon achievement of certain regulatory and sales
milestones.
"Through our licensing agreement with Formosa for APP13007 and upon regulatory
approval, Canadian patients will have a new treatment option for
post-operative inflammation and pain following ocular surgery,"
said Allan Oberman, President &
CEO, Apotex. "Expanding our portfolio of innovative medicines,
including our ophthalmic portfolio, along with our commercial
infrastructure, enables us to support more patients along their
journey to health."
"Formosa Pharma is honored to partner with Apotex, with its
storied history and reputation for success," said Erick Co,
President & CEO, Formosa. "Their commitment to branded
ophthalmology products gives us full confidence that APP13007 will
flourish in the Canadian market. We look forward to working
with the Apotex team in providing this differentiated therapy to
Canadian physicians and patients."
About APP13007
APP13007 (clobetasol propionate ophthalmic suspension, 0.05%) is
expected to provide ophthalmologists and ocular surgery patients
with a compelling, rapid, and sustained postoperative
anti-inflammatory and pain relief solution. More information is
available here.
About Apotex
Apotex is a Canadian-based global health company. We improve
everyday access to affordable, innovative medicines and health
products for millions of people around the world, with a broad
portfolio of generic, biosimilar, and innovative branded
pharmaceutical products. Headquartered in Toronto, with regional offices globally,
including in the United States,
Mexico, and India, we are the largest Canadian-based
pharmaceutical company and a health partner of choice for the
Americas for pharmaceutical licensing and product acquisitions.
Learn more about us at www.apotex.com.
SOURCE Apotex Inc.