Concordia Announces RedHill Biopharma Began Promoting Donnatal

Concordia International (NASDAQ:CXRX; TSX:CXR) announced that RedHill Biopharma (NASDAQ:RDHL) started promoting Donnatal in the U.S.
As quoted in the press release:

Concordia and RedHill originally announced this co-promotion agreement in January 2017 for Donnatal^®, Concordia’s product used in the treatment of irritable bowel syndrome.
“We are excited that RedHill is moving forward with its promotion of Donnatal® to potential prescribers in the U.S.,” said Allan Oberman, Chief Executive Officer of the Company. “We believe this cost-effective partnership can leverage RedHill’s experienced team in gastroenterology sales, raise the product’s profile, and potentially allow Donnatal® to reach more patients.”
Under the terms of the co-promotion agreement, RedHill will incur the sales and marketing costs associated with promotional activities for Donnatal®, while Concordia will provide materials and samples. Concordia will keep all revenue up to a predetermined level of sales. Only after reaching that predetermined level will revenue be shared between Concordia and RedHill.

Click here to read the full press release.

Source: www.newswire.ca