Faes Farma and Menarini unit link to commercialize bilastine in Asia-Pacific

Spanish drugmaker Faes Farma (FAE: SM) and Invida Holding, part of family owned Italian drugmaker Menarini, have signed an exclusive long-term agreement to commercialize the Spanish firm’s antihistamine bilastine in 17 markets in the Asia Pacific region.

The agreement allows Invida to tap into the strong demand for allergy products in Asia Pacific and covers the key markets of China and Australia, along with other important health care markets such as Philippines, Vietnam, Thailand, Singapore, Taiwan and Malaysia. Under the agreement, Faes will receive undisclosed upfront and milestone payments and will be the exclusive supplier of the active ingredient to Invida for the region. This agreement will reinforce the partnership between Faes and Menarini, which already has the rights for bilastine in 51 other countries.

Will enter a $412 Asia-Pacific market segment