Salix pays $5M to Indian firm in deal to develop new version of diarrhea drug
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Local Tech Wire
RALEIGH, N.C. - Salix Pharmaceuticals (Nasdaq: SLXP) is teaming up with an Indian firm to develop an extended release version of its traveler’s diarrhea drug rifaximin that is sold under the name Xifaxan.
Salix will pay Lupin Ltd. $5 million in an up-front fee as well as regulatory milestone payments and royalties once a product wins regulatory approval.
The two firms plan to use Lupin’s bioadhesive drug delivery technology for the new product. As part of the deal, Lupin also will supply to Salix the active ingredient used in Xifaxan.
“With this collaboration Salix embarks on the development of our next generation rifaximin product incorporating Lupin’s proprietary drug delivery platform with our proprietary gut-targeted antibiotic,” said Salix Chief Executivve Officer Carolyn Logann.
“We believe this novel delivery approach, which combines controlled-release as well as slowed gastrointestinal transit of rifaximin, might prove to provide a number of clinical advantages including patient compliance and patient convenience,” she added.
Salix reported some $80 million in Xifaxan revenue last year.
Copyright 2012 WRAL Tech Wire. All rights reserved.
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