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Depomed, Madaus enter distribution and supply agreement for ProQuin XR
By E. Janene Geiss
Philadelphia, Nov. 29 - Depomed, Inc. and Madaus Srl announced Tuesday that they have entered into a distribution and supply agreement for ProQuin XR, Depomed's once-daily extended release formulation of the antibiotic ciprofloxacin.
Under the agreement, Depomed has granted exclusive right to Madaus for the commercialization of ProQuin XR in Europe and has agreed to supply Madaus with commercial quantities in bulk form, according to a company news release.
In return, Madaus will pay Depomed for ProQuin XR tablets at a pre-specified percent of Madaus' wholesale ex-factory price, net of packaging costs, officials said.
Madaus is obligated to obtain regulatory approvals necessary to market ProQuin XR within the various European jurisdictions, officials said.
"We are pleased to enter into this agreement with Madaus, a rapidly growing pan-European pharmaceutical company with a proven track record of getting products approved and to market throughout Europe," said John W. Fara, chairman, president and chief executive officer of Depomed, in the release.
Fara said Madaus already has begun making contributions toward development and approval of ProQuin XR in Europe.
Ciprofloxacin is one of the most widely used products for the treatment of urinary tract infections in Europe with millions of units sold every year. Currently, no extended release formulations are available on the European market, officials said.
Madaus is a Padova, Italy specialty pharmaceutical company with a focus on urology drugs.
Menlo Park, Calif.-based Depomed is a specialty pharmaceutical company utilizing its AcuForm drug delivery technology to develop novel oral products and improved, extended release formulations of existing oral drugs.
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