No­van inks $11M deal with Ja­panese firm

BioSpectrum (Asia) - - FINANCE NEWS -

US based phar­ma­ceu­ti­cal com­pany No­van has an­nounced an ex­tended li­cense agree­ment with Sato Phar­ma­ceu­ti­cal Co, a Ja­panese pre­scrip­tion com­pany spe­cial­iz­ing in der­ma­tol­ogy. No­van has scored an $11 mil­lion agree­ment with the Ja­panese com­pany for the ex­clu­sive rights to sell their skin care medicine.

Un­der the terms of the agree­ment, Sato will make the pay­ments in monthly in­stall­ments over the next year, giv­ing it ex­clu­sive rights to de­velop and com­mer­cial­ize No­van’s SB206.

SB206 is a top­i­cal drug used for the treat­ment of viral skin in­fec­tions, such as warts and mol­lus­cum. No­van has pre­vi­ously held a part­ner­ship with Sato for the sale of an­other drug, SB204, used for the treat­ment of acne, since Jan­uary 2017.

The agree­ment al­lows No­van to re­tain the rights to man­u­fac­ture the ac­tive phar­ma­ceu­ti­cal in­gre­di­ent of both SB204 and SB206, which No­van will sup­ply to Sato for com­mer­cial pur­poses.

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