M&A

M&A

Dr Reddy's Labs sells Elyxyb brand migraine drug rights in North America to BDSI for $15-M

Press Release  

Publicly listed Dr Reddy's Laboratories Ltd has entered into a definitive asset sale agreement with Raleigh, NC (USA)-based BioDelivery Sciences International, Inc. (BDSI) to sell its US and Canada territory rights for Elyxyb (celecoxib oral solution) 25 mg/mL. Under the terms of agreement, Hyderabad-based Dr.Reddy's will receive $6 million upfront upon closing followed by $9 million one year from closing. Further, it is eligible to receive event based, sales based milestones and quarterly earn-out payments. Elyxyb is an oral solution dosage form which makes it convenient for patients to take it immediately upon emergence of migraine attacks. Elyxyb (previously known as DFN-15) is indicated for the acute treatment of migraine with or without aura in adults.