Ono and Meiji Seika make development and commercialization agreement on Limaprost
Japanese companies Ono Pharmaceutical (TYO: 4528) and Meiji Seika (TYO: 2202) have announced an agreement on the development and commercialization of Limaprost alfadex, for lumbar spinal canal stenosis.
The agreement is for Meiji to have exclusive rights to develop and commercialize Limaprost in Thailand and Indonesia. Meiji will make an upfront payment and development milestones to Ono, and will develop and sell the drug through local subsidiaries. After the launch in these regions, Meiji will pay royalties and sales milestones to Ono based on achievement of projected sales of Limaprost.
Ono will retain rights to co-promote Limaprost with Meiji in Thailand and Indonesia.
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