For exclusive rights for an innovative prescription head lice product, 'Xeglyze Lotion'
Dr Reddy's Laboratories announced the signing of commercialisation deal with Hatchtech, an Australian pharmaceutical company developing an innovative prescription head lice product, 'Xeglyze Lotion'. The exclusive rights for this product are applicable for territories of the United States, Canada, India, Russia and the CIS, Australia, New Zealand and Venezuela.Additionally, Hatchtech announced it will be filling its new drug application for Xeglyze with the United States Food and Drug Administration. If approved, the product will be marketed in the United States by Promius Pharma, a wholly owned speciality company of Dr Reddy's Laboratories.
As part of the agreement, Dr Reddy's will pay Hatchtech an upfront amount of USD 10 million, up to UDS 50 million based on pre commercialisation milestones and an undisclosed amount based on post commercialisation milestone, linked to achievement of annual sales net sales targets.
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