10th May 2016 11:09
LONDON (Alliance News) - Clinigen Group PLC said Tuesday it has signed an exclusive deal with NASDAQ-listed Cumberland Pharmaceuticals Inc to commercialise cancer support drug Ethyol in the US.
This is the first product Clinigen has licensed to Cumberland under a strategic alliance the two entered into late last year, it said. Clinigen bought the worldwide rights to Ethyol from AstraZeneca PLC in 2014.
Ethyol is approved by the US Food and Drug Administration to treat xerostomia - or dry mouth - as a side effect in patients undergoing post operative radiation treatment for head and neck cancer.
"Our strategic alliance with Cumberland is a key part of our continuing strategy to develop our global footprint for our Specialty Pharmaceuticals business. This exclusive agreement with Ethyol is the first with Cumberland but others will follow. They are an important partner as we look to further raise our presence in a major market such as the US," said Chief Executive Officer Peter George in a statement.
Shares in Clinigen were down 0.2% at 517.00 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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