Endo Int'l Buys Rights To Natesto Testosterone Nasal Gel From Trimel BioPharma

By RTT News, November 24, 2014, 07:18:00 AM EDT

(RTTNews.com) - Endo International plc. (ENDP, ENL.TO) announced the acquisition of rights to Natesto (testosterone nasal gel), the first and only testosterone nasal gel for replacement therapy in adult males diagnosed with hypogonadism, from Trimel BioPharma SRL, a wholly-owned subsidiary of Trimel Pharmaceuticals Corp. (TRL.TO).

Natesto was approved by the U.S. Food and Drug Administration in May of 2014.

As per the terms of the agreement Trimel will receive an upfront payment of $25 million and could receive additional payments upon the achievement of certain regulatory and sales milestones. Additionally, Trimel will be responsible for the manufacture and supply of Natesto and Endo will pay a tiered supply price for the product.

Endo expects the transaction to close in early 2015.

Under the terms of the agreement, Endo receives sole and exclusive commercial rights to the Natesto product in the US and Mexico. In addition, Endo will collaborate on all regulatory and clinical development activities in coordination with Trimel.

In a separate press release, Trimel Pharmaceuticals confirmed the signing of an agreement by its subsidiary, Trimel Biopharma SRL, providing an affiliate of Endo International with the exclusive rights to market NATESTO in the United States and Mexico.

Under the terms of the agreement, Trimel is eligible to receive payments of up to US$165 million based on certain regulatory and sales milestones in addition to an upfront fee of US$25 million and a prepaid inventory deposit of US$5 million upon closing of the deal. Additionally, Trimel will be responsible for the manufacture of NATESTO and receive a tiered supply price for the product. Closing of the transaction is subject to customary Hart-Scott-Rodino approval.

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Endo Int'l Buys Rights To Natesto Testosterone Nasal Gel From Trimel BioPharma

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