Otsuka returns US rights to Sativex

13 December 2017

UK-based biopharma firm GW Pharmaceuticals (Nasdaq: GWPH) today announced the termination of its previous license agreement with Japan’s Otsuka Pharmaceutical (TYO: 4578) in relation to Sativex (nabiximols) in the USA.

Otsuka did not elaborate on its decision to give up these rights.

As a result, GW has now reacquired full ownership of the development and commercialization rights to the product in the US market without making any upfront payment to Otsuka. GW has agreed to make contingent milestone payments to Otsuka, the first of which would become due upon US Food and Drug Administration approval of Sativex and thereafter additional payments would become due upon the achievement of certain annual sales thresholds of Sativex in the United States.

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