BRIEF—Tetris buys rights to Ogluo in Europe

Chicago, USA-based specialty drug company Xeris Pharmaceuticals has agreed a deal with Tetris Pharma for the commercialization of Ogluo (glucagon) in Europe.

Marketed in the USA as Gvoke, the product is approved for severe hypoglycemia in people with diabetes. Xeris is using its novel tech to develop ready-to-use formulations of injectables.

The deal will see Xeris supplying the product and Tetris taking charge of commercialization, paying up to $71 million in launch and sales-related milestones, plus royalties.

Xeris estimates there are more than five million people on insulin and at risk of severe hypoglycemia in Europe, with only an estimated 10-20% having a prescription for glucagon.