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Aequus Extends and Enhances Commercial Agreement to Promote Vistitan in Canada
Jul. 16, 2018 09:12AM PST
Pharmaceutical Investing
Aequus Pharmaceuticals (TSXV:AQS) has announced it has agreed to new terms for its promotional service agreement with Sandoz on Vistitan with a term extension of an additional year. As quoted in the press release: Aequus began promotional efforts in May 2016 for Vistitan (bimatoprost 0.03%, ophthalmic solution), which is approved in Canada for the reduction …
Aequus Pharmaceuticals (TSXV:AQS) has announced it has agreed to new terms for its promotional service agreement with Sandoz on Vistitan with a term extension of an additional year.
As quoted in the press release:
Aequus began promotional efforts in May 2016 for Vistitan (bimatoprost 0.03%, ophthalmic solution), which is approved in Canada for the reduction of elevated intraocular pressure (“IOP”) in patients with open angle glaucoma or ocular hypertension. Under the previous agreement, Aequus and Sandoz split revenues based upon an agreed to tiered structure over the term. With this amendment, revenue splits as of 2019 will increase from the originally agreed to tiering schedule by an additional 7% of net product sales and up to an additional 12% if certain milestones are met. The term has been extended to June 2021, with an option for renewal if mutually agreed to.
“Sandoz has proven to be a great partner through the successful launch of Vistitan, and we are very pleased to extend our promotional efforts for this product. We have consistently grown market share for Vistitan and have achieved reimbursement in many key provinces since its launch. There is room for continued growth, and this improvement on terms allows us to continue our investments in Vistitan to accomplish that growth,” said Ian Ball, Chief Commercial Officer. “Our dedicated ophthalmology sales team will continue to share the benefits of Vistitan with clinicians and patients for the duration of the extended term.”
“We are delighted to sign this extension and improvement on commercial terms with Sandoz. We see this as validation of our efforts and partnership model as we continue to commercialize medications that serve an unmet need in Canada,” said Doug Janzen, Chairman and CEO of Aequus. “We are on track to meet our revenue targets in 2018 for this product, and this further enhances our expected trajectory for the coming years.”
