Extended collaboration with Recordati in Spain
Meda has extended its collaboration with the Italian pharma company Recordati in the cardiovascular area. A long-term agreement has been signed for Lercadip® (lercanidipine) in Spain. The product is a calcium antagonist indicated for treatment of high blood pressure. Meda takes over an existing annual turnover of about 60 MSEK from a previous licensee. Under the agreement, Meda has undertaken to pay milestones equivalent to approximately one times annual sales.
In Spain, Meda already holds marketing rights to the combination product Coripren®, lercanidipine + enalapril (a well-known ACE inhibitor). This product is intended to be launched during 2009. Marketing synergies are expected with Lercadip.