Galderma has received its first three Pliaglis marketing licenses from E.U. countries, triggering a $6 million milestone payment to partner Nuvo Research. The milestone payments are due on the launch of Pliaglis in the approved countries or six months from the date of marketing approval. The payments are expected in December 2012 ($5.0 million) and January 2013 ($1.0 million). Galderma plans to launch Pliaglis in the E.U. and other territories in 1H13.
"We are extremely pleased that Pliaglis is in the process of being approved in a number of E.U. countries and that Nuvo is receiving a substantial regulatory milestone payment as a result," said Dr. Bradley Galer, president of Nuvo's Pain Group. "The upcoming launch of Pliaglis will mean that Nuvo will have 3 growing sources of revenue from globally commercialized topical pain products."