QRxPharma Ltd. has entered a licensing agreement with Paladin Labs, Inc. for the Canadian commercialization rights to MOXDUO, a patented, immediate release formulation of morphine and oxycodone.
Paladin will receive exclusive rights to commercialize MOXDUO in Canada and assumes responsibility for the New Drug Submission (NDS), product launch costs as well as ongoing marketing and sales efforts. QRxPharma will receive an up-front payment of $500,000, royalties, and as much as $25 million in milestone payments for sales, regulatory and reimbursement targets.
“We are delighted to announce our strategic collaboration with Paladin,” said Dr. John Holaday, managing director and chief executive officer, QRxPharma. “Their sector experience, consistent record of growth in branded pain products, and strong balance sheet to support the launch of MOXDUO made Paladin our best choice for the Canadian market.”
“Paladin Labs has extensive experience growing branded pain products,” said Mark Beaudet, Paladin’s interim president and chief executive officer. “MOXDUO will complement our existing prescription portfolio in Canada which includes already launched products Metadol, Pennsaid, our market-leading Tridural and Abstral, as well as hydrocodone ER which awaits regulatory filing in Canada. MOXDUO will become another important piece of our future growth and continued expansion in a Canadian therapeutic category that is important for our business and future strategy.”