The US-based Ranbaxy Pharmaceuticals Inc (RPI), the wholly-owned subsidiary of Ranbaxy Laboratories, has purchased the patents, trademarks, and automated manufacturing equipment of Senetek Plc's proprietary disposable autoinjector for self-administration of parenteral drugs.According to a release issued by Ranbaxy to the BSE today, the agreement provides for a non-refundable payment by the company to Senetek on signing the deal, and milestone payments based on regulatory approvals and cumulative sales milestones. "The terms also include a percentage of the company's and/or its licensees' quarterly net sales of the product(s) to be paid to Senetek. Initially, the company will focus on pre-filling the autoinjector device with epinephrine. The company will also evaluate the development of other parenteral drugs (including Senetek's patented erectile dysfunction drug Invicorp)," the release added.
