Medivir takes $45 million up front for Xerese and hands over full US rights to Meda
This article was originally published in Scrip
Executive Summary
Medivir has renegotiated the terms of its commercial partnership with Meda for the cold sore (recurrent herpes labialis) treatment Xerese (5% aciclovir plus 1% hydrocortisone). It will now receive a $45 million payment from Meda in return for transferring all rights to the product in the US, Canada and Mexico. Meda launched the product in the US in February this year where it is available on prescription and Medivir currently receives a double digit royalty on Meda's sales in this market. Their collaboration on the product was signed in February last year.