Australian based company, QRxPharma Limited announced today the execution of a licensing agreement with Port Elizabeth based Aspen Pharmacare Holdings Limited, for the commercialisation rights to immediate release MOXDUO in South Africa. On 11 September 2013 QRxPharma announced a licensing deal with Aspen’s Australian subsidiary for the Australia, New Zealand and Oceania commercialisation rights to immediate release MOXDUO. That agreement also provided Aspen an option to enter into a license for the territory of South Africa, which Aspen has now exercised.
“We are delighted to extend our strategic collaboration with Aspen to include the South African market,” said Dr. John Holaday, Managing Director and Chief Executive Officer, QRxPharma. “Aspen brings an extensive marketing presence in South Africa which will help ensure that MOXDUO is available to patients suffering moderate to severe pain, and to clinicians looking for safer pain treatments.”
Under the licensing agreement, Aspen will receive the exclusive rights to commercialise immediate release MOXDUO in South Africa and will assume responsibility for the regulatory filing, all product launch costs as well as ongoing marketing and sales efforts. QRxPharma will receive a A$250,000 milestone payment upon regulatory approval of immediate release MOXDUO in South Africa, together with double digit royalties on all sales. QRxPharma retains all rights to the intravenous and controlled release formulations of MOXDUO in South Africa.
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