SkyePharma signs agreement to develop antihypertensive
23 May 2006 00:00 in Pharmaceutical Company Product News
British pharmaceutical company SkyePharma has revealed it has signed an agreement with First Horizon to develop and replace the existing version of Sular, a First Horizon antihypertensive drug, in favour of a new controlled-release version with an improved pharmacokinetic profile.
Sular is currently First Horizon's biggest seller and in return for helping to develop the drug further, SkyePharma will receive a "mid-single digit" royalty for the drug, in addition to $5 million in milestone payments, $4 million depending on FDA approval and $1 million up front.
As part of the deal, SkyePharma will manufacture the drug and First Horizon will fund the development costs for Sular controlled release (CR).
SkyePharma's chief executive officer, Frank Condella, said: "'SkyePharma's core competency is the development of improved formulations of existing products. This new agreement reinforces our activities in this area now that we are focusing on our core business of oral and inhalation products."
"We are also pleased to expand our collaboration with First Horizon, a fast growing US pharmaceutical company."
Sular is a calcium channel blocker that causes certain muscles to relax. According to SkyePharma, nisoldipine, the active ingredient in Sular, affects small arteries but does not affect the heart or its veins.
Last month SkyePharma revealed that 2005 had been a "difficult" year for the company, but it added that it had high hopes for Flutiform, an anti-asthma drug, as a means for the company to become profitable once again. As of the start of 2005, the company employed 427 members of staff.
© Adfero LtdOther news stories from 23/05/2006
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