Avanir licenses cold sore cream to Healthcare Brands for marketing in Europe

By Lisa Kerner

Charlotte, N.C., July 6 - Avanir Pharmaceuticals signed an exclusive agreement with Healthcare Brands International to develop and market Avanir's docosanol 10% cream (docosanol) as a treatment for cold sores in the European Union, (except Denmark, Finland, Greece, Italy, and Sweden, all covered by previous license grants from Avanir) Russia and the Ukraine.

Under the agreement, Avanir receives an upfront fee and milestone payments if docosanol receives certain regulatory approvals. The agreement also provides payments to Avanir in the event of any subsequent divestiture or sublicense of docosanol by Healthcare Brands, or any initial public offering of Healthcare Brands' securities.

Healthcare Brands is responsible for all expenses related to the regulatory approval and commercialization of docosanol in the assigned territory.

"With the completion of this agreement, Avanir has successfully licensed the rights to docosanol in all significant commercial territories worldwide," vice president of business development and licensing Marty Emanuele said in a news release.

Docosanol is sold in North America under the brand name Abreva by GlaxoSmithKline Consumer Healthcare.

San Diego-based Avanir develops, acquires and commercializes novel therapeutic products for the treatment of chronic diseases.

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