TaiGen Biotechnology Co (太景生技) yesterday said it has clinched a deal with the Bermuda-based pharmaceutical firm Warner Chilcott PLC to market a new TaiGen product in the European, US and Japanese markets.
The agreement for Warner Chilcott to conduct the phase III clinical trial of nemonoxacin — a new-generation antibiotic — and commercialize the drug in these markets was finalized in August, TaiGen chairwoman and chief executive officer Hsu Ming-chu (許明珠) told a press conference.
Under the deal, TaiGen received an upfront payment from Warner Chilcott and would be eligible for certain “milestone payments” during the various clinical trial stages, as well as a royalty based on Warner Chilcott’s net sales of the drug.
Hsu refused to say how much the deal would contribute to future earnings, although she cited estimates from healthcare consultant IMS Health Inc, which said peak sales of nemonoxacin could reach US$1.2 billion a year after commercialization.
The Neihu (內湖) biotech firm was founded in 2001, and partly invested in by Yuen Foong Yu Group (永豐餘集團). It licensed nemonoxacin from Procter & Gamble (P&G) Co in June 2005, after the latter developed and carried out the phase I trial for the drug.
TaiGen carried out the phase II trials on community-acquired bacterial pneumonia and diabetic foot-infection patients, in which nemonoxacin demonstrated an excellent efficacy and safety profile.
Last October, Warner Chilcott acquired P&G’s global branded prescription pharmaceutical business, and decided to license the drug back from TaiGen, Hsu said.
“The deal proved TaiGen’s capability to conduct clinical trials within the standards set by the US Food and Drug Administration,” she said.
Warner Chilcott focuses on the gastroenterology, women’s healthcare, dermatology and urology segments of the North American and Western European markets.
Hsu said TaiGen would continue to develop antibiotic drugs, but it would license the commercialization of new drugs to other partners, such as Warner Chilcott.
“Commercialization and marketing activities for new drugs are very capital intensive. Let us focus on what we do best: research and development,” she said.
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