Phargentis has entered into a new license agreement with one of Europe’s leading generic pharma companies over the third generic inhaled therapy that Phargentis is developing – an interchangeable version of Chiesi’s ICS/LABA fixed combination Fostair®. Under the agreement the new partner pays a substantial license fee for the commercial rights to eventually market the product, which has successfully completed its in vitro evaluation. The new partner company has a formidable market access network and resilient supply chains across Europe, plus extensive experience in generics.
ICS/LABA is a widely prescribed maintenance therapy for asthma and COPD, often prescribed in combination with other inhaled products. The pressurized metered dose inhaler (pMDI) contains beclomethasone, a corticosteroid that reduces inflammation in the lungs, and formoterol, a beta-2 agonist which decreases the number and severity of asthma attacks.
Phargentis has a strong track record of successfully partnering with experienced generic pharmaceutical companies early on in the development process. The approach is key to enabling the company’s signature early market entry strategy. In the development of Phargentis’ flagship product ‘T10’ (Tiotropium bromide 18 µg Dry Powder Inhaler, the first fully interchangeable generic version of COPD blockbuster therapy Spiriva®Handihaler®), a total of five different license deals with five different partners were established early on. Today the product has been approved in 28 European countries and sales are already underway in several countries. Globally the market for the product is estimated to be worth 2.5 BUSD.
Phargentis CEO Andrea Tam: “We have a strong track record of partnering early on and this new agreement confirms it. It’s a smart approach that helps mitigate risk, reduce exposure and ensure early market entry. With a dedicated team of more than 4,700 people and production sites across Europe our new partners understand, like us, that generic drugs offer powerful benefits to society and patients, and that that being able to deliver them at volume is all about finding the right partners and achieving market access first. We’re delighted to be partnering on this extremely valued product.”