MediGene and Teva sign agreement to commercialize Veregen in Israel

24-Feb-2010 - Germany

MediGene AG has signed a license and supply agreement with Teva Pharmaceutical Industries Ltd. for the supply and commercialization of Veregen(TM) in Israel. Teva will also be responsible for registering the product in Israel, and upon successful completion of the regulatory procedures, MediGene is entitled to a milestone payment. In addition, MediGene will receive royalties on future sales of the product. Veregen(TM), for the treatment of genital warts, is MediGene's first internally developed drug. Veregen(TM) is already available on the US market and has obtained marketing authorization in Germany.

Dr. Frank Mathias, Chief Executive Officer of MediGene AG, commented: "Following our European commercialization agreements in Germany, Spain, Portugal, Austria, and Switzerland, we have now concluded our first partnership for the commercialization of Veregen(TM) outside Europe and the US. We are particularly proud to have secured Teva, one of the world's top 20 pharmaceutical companies, for the distribution of Veregen(TM)."

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