January 2, 2008
Sepracor May Market Epilepsy Drug
By Matthew L. Brown
Marlborough-based Sepracor Inc. will pay Portuguese drug-maker Bial as much as $175 million for the rights to bring an epilepsy drug to the U.S. market.
The licensing agreement requires Sepracor to see Bial's BIA 2-093 epilepsy drug through approval by the U.S. Food and Drug Administration. The agreement also allows Sepracor to put the drug on the commercial market in the U.S. and Canada once all approvals are issued. Sepracor said it expects to submit a new drug application with the FDA late this year or early in 2009.
Sepracor paid $75 million up front for the rights to get the drug approved and will make payments totaling as much as $100 million as regulatory milestones are met.
The drug, which is said to control epileptic seizures, has been through clinical trials in 22 countries.
The licensing agreement requires Sepracor to see Bial's BIA 2-093 epilepsy drug through approval by the U.S. Food and Drug Administration. The agreement also allows Sepracor to put the drug on the commercial market in the U.S. and Canada once all approvals are issued. Sepracor said it expects to submit a new drug application with the FDA late this year or early in 2009.
Sepracor paid $75 million up front for the rights to get the drug approved and will make payments totaling as much as $100 million as regulatory milestones are met.
The drug, which is said to control epileptic seizures, has been through clinical trials in 22 countries.
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