Furiex (FURX) to Gain Global Priligy Rights

May 14, 2012 5:31 PM EDT
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Furiex Pharmaceuticals, Inc. (Nasdaq: FURX) has entered into an agreement with ALZA Corporation and Janssen Pharmaceutica, N.V. whereby ALZA and Janssen will transfer worldwide rights for Priligy to Furiex. Currently Priligy is marketed by Janssen for on-demand treatment of premature ejaculation in 15 countries in Europe, Asia and Latin America, while it is approved for that indication in 43 countries worldwide.

To ensure a smooth transition, Janssen will continue to manufacture and manage certain clinical and regulatory activities with respect to Priligy for a pre-defined period after the closing date of the agreement. Janssen will continue to make Priligy available to patients until the Marketing Authorizations are transferred, at which time commercialization of the product will transition to Furiex or its licensee.

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