Gedeon Richter expands deal with Mithra for estetrol in China
Hungarian drugmaker Gedeon Richter (RICHT: HB) has expanded its partnership with Mithra Therapeutics (Euronext: MITRA) with a deal to develop and commercialize the first estetrol-based combined oral contraceptive (15mg estetrol (E4)/3mg drospirenone) and the mono estetrol (E4) investigational product for the treatment of the symptoms of menopause in China.
On finalization of the license agreements, Richter make Belgium-based women’s healthcare specialist Mithra a down payment of 4.5 million euros ($4.9 million). The deal also foresees a total of 1.2 million euros in payments for the achievement of regulatory milestones for both products, and 8.5 million euros in sales-related milestones, as well as a low-double-digit share of cumulative net sales (royalties) after launch.
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