Ipsen: No deal with Medicis for botulinum toxin product due to lack of European distribution network

By Lisa Kerner

Charlotte, N.C., July 12 - Ipsen said it will not pursue an agreement with Medicis for the commercialization of Ipsen's botulinum toxin product, Reloxin, outside of the United States, Canada and Japan.

Medicis could not structure a European distribution network on mutually acceptable economic terms, according to a company news release.

As a result, in addition to the $90.1 million upfront payment already made to Ipsen, Medicis committed to pay additional milestones totaling more than $100 million.

Also, under the terms of the company's March 2006 this agreement, as a result of the discontinuance of negotiations for other territories, Medicis will pay to Ipsen an additional $35 million.

Ipsen had granted Medicis the rights to develop, distribute and commercialize Ipsen's botulinum toxin (Reloxin or Dysport) product in the United States, Canada and Japan for aesthetic use by physicians.

Medicis is an independent specialty pharmaceutical company located in Scottsdale, Ariz.

Paris-based Ipsen targets the therapeutic areas of oncology, endocrinology and neuromuscular disorders.

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