Apotex expands ophthalmic franchise through the acquisition of Canadian rights to APP13007 (clobetasol propionate ophthalmic suspension, 0.05%), a novel steroid for ophthalmology
Aug 7, 2024TORONTO, Aug. 5, 2024 /CNW/ - Apotex Inc. ("Apotex"), the largest Canadian-based pharmaceutical company, today announced an agreement with Formosa Pharmaceuticals ("Formosa") under which Apotex has the exclusive rights to market and distribute APP13007 (clobetasol propionate ophthalmic suspension, 0.05%) in Canada upon approval. The agreement further expands Apotex's ophthalmic franchise, building off a licensing agreement with Harrow Inc. for five branded pharmaceutical products completed in February 2024.
APP13007 is a novel eyedrop derived from Formosa's proprietary APNT™ nanoparticle formulation platform and utilizes a super potent corticosteroid. Apotex will be responsible for obtaining marketing authorization for APP13007 in Canada. Formosa will receive certain payments under the agreement, including an upfront payment and milestone payments upon achievement of certain regulatory and sales milestones.
"Through our licensing agreement with Formosa for APP13007 and upon regulatory approval, Canadian patients will have a new treatment option for post-operative inflammation and pain following ocular surgery," said Allan Oberman, President & CEO, Apotex. "Expanding our portfolio of innovative medicines, including our ophthalmic portfolio, along with our commercial infrastructure, enables us to support more patients along their journey to health."
"Formosa Pharma is honored to partner with Apotex, with its storied history and reputation for success," said Erick Co, President & CEO, Formosa. "Their commitment to branded ophthalmology products gives us full confidence that APP13007 will flourish in the Canadian market. We look forward to working with the Apotex team in providing this differentiated therapy to Canadian physicians and patients."'
APP13007 (clobetasol propionate ophthalmic suspension, 0.05%) is expected to provide ophthalmologists and ocular surgery patients with a compelling, rapid, and sustained postoperative anti-inflammatory and pain relief solution. More information is available here.
Apotex is a Canadian-based global health company. We improve everyday access to affordable, innovative medicines and health products for millions of people around the world, with a broad portfolio of generic, biosimilar, and innovative branded pharmaceutical products. Headquartered in Toronto, with regional offices globally, including in the United States, Mexico, and India, we are the largest Canadian-based pharmaceutical company and a health partner of choice for the Americas for pharmaceutical licensing and product acquisitions. Learn more about us at www.apotex.com.
Media inquiries: Contact Apotex Media, media@apotex.com
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