Ipsen, a global specialty-driven pharmaceutical company, and Galderma, a global healthcare company focused on dermatology and skin health, announced that they have significantly expanded the scope of their neurotoxin partnership.
“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,” said Marc de Garidel, chairman and chief executive officer of Ipsen.
Humberto Antunes, chief executive officer of Galderma International, said: “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.”
Garidel and 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 United States 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 United States, Canada, Brazil and Europe for a period extending to 2036. As part of this renegotiated agreement, Galderma will pay 25 million euros 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 United States, Canada, Brazil and Europe2 in exchange for a payment of 10 million euros, while Galderma retains commercialization rights.
Date: July 11, 2014