PARIS & LAUSANNE, Switzerland -- (BUSINESS WIRE) -- Regulatory News:
Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven pharmaceutical company, and Galderma, a global healthcare company focused on dermatology and skin health, today announced that they have significantly expanded the scope of their neurotoxin partnership.
Marc de Garidel, Chairman and Chief Executive Officer of Ipsen stated: “We are delighted to expand and deepen our collaboration with Galderma, based on our common ambition to create a world leader in neurotoxins. The partnership on Dysport®/Azzalure® now covers most key territories, representing three quarters of the world market for neurotoxins in aesthetic and dermatology indications. We are confident that Galderma is the best partner to help us seize the significant growth opportunities lying ahead of Dysport®/Azzalure® and our neurotoxins in development. Through our new R&D partnership, Galderma will be entitled to develop our promising neurotoxin pipeline in aesthetic and dermatology indications, including the innovative programs acquired from Syntaxin.”
Humberto C. Antunes, Chief Executive Officer of Galderma International stated: “The reinforcement of Galderma’s partnership with Ipsen increases the ability of both companies to succeed and to meet the needs of both physicians and patients worldwide over many indications. With this agreement, Galderma will be able to significantly expand its commercial reach with Dysport®/Azzalure® and to gain access to Ipsen’s state-of-the-art neurotoxin platform to meet the full range of skin health needs.”
Marc de Garidel and Humberto C. Antunes added: “We are convinced that this agreement is beneficial to both companies, that it will create significant value for our respective shareholders and benefit patients through existing neurotoxins and those in development.”
Under the terms of the agreement, the Dysport® distribution rights in the US and Canada, held originally by Valeant, have been included in the partnership between Ipsen and Galderma for the distribution of Dysport®/Azzalure® in aesthetic and dermatology indications. This partnership now covers the US, Canada, Brazil and Europe2 for a period extending to 2036. As part of this renegotiated agreement, Galderma will pay €25 million to Ipsen and benefit from improved margins in those territories. Ipsen will manufacture and supply the finished product to Galderma and receive royalties from Galderma.
In addition, the companies will increase the scope of their R&D collaboration through which each company will benefit from the other party’s research compounds within its respective and exclusive areas of focus. In this regard, Ipsen will gain control of the intellectual property for Galderma’s liquid toxin in the US, Canada, Brazil and Europe2 in exchange for a €10 million payment, while Galderma retains commercialization rights.
About Ipsen’s botulinum toxin type A
Dysport®, Ipsen’s botulinum toxin type A, is a neuromuscular blocking toxin which acts to block acetylcholine release at motor nerve ends and reduces muscular spasm. It was initially developed for the treatment of movement disorders such as cervical dystonia (a chronic condition in which the neck is twisted or deviated), blepharospasm (involuntary eye closure), hemifacial spasm and various forms of muscle spasticity, including post-stroke arm spasticity, spasticity of the lower limbs (calf) in adults and children with cerebral palsy. Dysport® was originally launched in the United Kingdom in 1991 and has marketing authorizations in 75 countries (at 31 December 2013).
The product is currently referred to as Dysport® for medical and aesthetic markets and as Azzalure® in aesthetic indication in EU.
Galderma is a global company founded in 1981 committed to delivering innovative medical solutions to meet the dermatological needs of people throughout their lifetime while serving healthcare professionals around the world. The company has 34 wholly-owned affiliates with a worldwide network of distributors and more than 5,000 employees. Galderma’s extensive product portfolio is available in 80 countries and treats a range of dermatological conditions including: acne, rosacea, onychomycosis, psoriasis & steroid-responsive dermatoses, pigmentary disorders, skin cancer and medical solutions for skin senescence. With approximately 19% of revenues invested each year to discover and develop new products and access innovative technologies, the company is one of the world’s leading investors in dermatology R&D. Five state-of-the-art R&D centers and five manufacturing sites are dedicated to providing a wide range of innovative medical solutions which meet the highest standards of safety and efficacy.
Ipsen is a global specialty-driven pharmaceutical company with total sales exceeding €1.2 billion in 2013. Ipsen’s ambition is to become a leader in specialty healthcare solutions for targeted debilitating diseases. Its development strategy is supported by 3 franchises: neurology, endocrinology and uro-oncology. Moreover, the Group has an active policy of partnerships. Ipsen's R&D is focused on its innovative and differentiated technological platforms, peptides and toxins. In 2013, R&D expenditure totaled close to €260 million, representing more than 21% of Group sales. Moreover, Ipsen also has a significant presence in primary care. The Group has close to 4,600 employees worldwide. Ipsen’s shares are traded on segment A of Euronext Paris (stock code: IPN, ISIN code: FR0010259150) and eligible to the “Service de Règlement Différé” (“SRD”). The Group is part of the SBF 120 index. Ipsen has implemented a Sponsored Level I American Depositary Receipt (ADR) program, which trade on the over-the-counter market in the United States under the symbol IPSEY. For more information, visit www.ipsen.com.
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1 Excluding Russia
2 Excluding Russia