RALEIGH – BioDelivery Sciences International is paying millions to acquire rights in the U.S. and Canada for an FDA-approved migraine treatment from Dr. Reddy’s Laboratories.
The drug is called ELYXYB. The oral solution is approved for use in adults.
“ELYXYB represents an excellent strategic fit for BDSI and a very attractive opportunity to diversify our product portfolio by expanding into the dynamic migraine market, deepening our presence in Neurology, a logical adjacency to our pain franchise,” said Jeff Bailey, CEO of BDSI.
BDSI also said it plans to conduct a pediatric study, noting the drug has “the potential to address the significant unmet need in the pediatric patient population.”
BDSI will pay $6 million up front for the drug rights and another $9 million in August 2022 plus other payments based on sales and the reaching of other regulatory milestones.