Valeant pays subsidiary for rights to psoriasis drug
After presenting annual financial results and 2018 guidance that disappointed investors on Wednesday, the debt-ridden Canadian drugmaker Valeant Pharmaceuticals International (TSX: VRX) can at least point to a new potential revenue stream in the future.
Valeant has paid its Japanese subsidiary Kaken Pharmaceutical for rights to develop and commercialize products containing an investigational compound, KP-470, a new chemical entity which is being studied for the topical treatment of psoriasis.
Valeant’s exclusive license covers dermatological and rheumatological disorders and conditions, and the regions of North America and Europe.
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