Furiex Pharma gets rights to Priligy, some of which it sells on to Menarini

In a two part transaction, USA-based Furiex Pharmaceuticals (Nasdaq: FURX) has entered into an agreement with ALZA Corp and Janssen Pharmaceutica (both part of the Johnson & Johnson group; NYSE: JNJ) whereby the companies will transfer worldwide rights for Priligy (dapoxetine) to Furiex. No financial terms of the deal were disclosed.

Currently Priligy is marketed by Janssen for on-demand treatment of premature ejaculation in 15 countries in Europe, Asia and Latin America, while it is approved for that indication in 43 countries worldwide.

To ensure a smooth transition, Janssen will continue to manufacture and manage certain clinical and regulatory activities with respect to Priligy for a pre-defined period after the closing date of the agreement. Janssen will continue to make Priligy available to patients until the Marketing Authorizations are transferred, at which time commercialization of the product will transition to Furiex or its licensee.