Watson Pharma (WPI) to License Ulipristal Acetate with HRA Pharma
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Watson Pharmaceuticals, Inc. (NYSE: WPI) and HRA Pharma today announced an exclusive licensing agreement for Watson to become the commercial partner for ulipristal acetate (UPA), a selective progesterone receptor modulator in the U.S. UPA is a novel next-generation emergency contraceptive developed by HRA Pharma specifically for emergency contraceptive use that is approved and marketed by HRA Pharma in Europe as ellaOne® since October 2009. UPA is at the New Drug Application (NDA) stage in the U.S.
According to the data recently published in The Lancet, which evaluated the efficacy of UPA as compared to levonorgestrel for emergency contraception among 1696 women in the United Kingdom, Ireland and the United States, UPA provides effective, alternative emergency contraception for up to five days after unprotected sexual intercourse.
Under the terms of the licensing agreement, Watson will make payments to HRA Pharma, based on the achievement of certain milestones. In addition, Watson will also pay HRA Pharma a royalty on U.S. sales of the product. Watson will be responsible for all U.S. commercialization and marketing expenses.
"The opportunity to collaborate with HRA Pharma on the U.S. commercialization of UPA fits nicely within our broader strategy to expand our emerging position in women's health care and to provide women with a vast array of safe, effective treatment options in contraception as well as other important therapeutic areas," said Fred Wilkinson, Watson's executive vice president, Global Brands. "The published clinical results are significant, and we are optimistic about the prospects of providing U.S. women with a new emergency contraceptive option."
"We are excited to further our international expansion by partnering with Watson to bring UPA to the U.S.," said Erin Gainer, CEO of HRA Pharma. "For over a decade, our mission has been to design custom-made solutions in women's health that fill therapeutic gaps and improve overall patient health. Our first step into the U.S. with Watson, who shares this same commitment to women's health care, represents a crucial milestone for us in our vision of making UPA available to women worldwide."
According to the data recently published in The Lancet, which evaluated the efficacy of UPA as compared to levonorgestrel for emergency contraception among 1696 women in the United Kingdom, Ireland and the United States, UPA provides effective, alternative emergency contraception for up to five days after unprotected sexual intercourse.
Under the terms of the licensing agreement, Watson will make payments to HRA Pharma, based on the achievement of certain milestones. In addition, Watson will also pay HRA Pharma a royalty on U.S. sales of the product. Watson will be responsible for all U.S. commercialization and marketing expenses.
"The opportunity to collaborate with HRA Pharma on the U.S. commercialization of UPA fits nicely within our broader strategy to expand our emerging position in women's health care and to provide women with a vast array of safe, effective treatment options in contraception as well as other important therapeutic areas," said Fred Wilkinson, Watson's executive vice president, Global Brands. "The published clinical results are significant, and we are optimistic about the prospects of providing U.S. women with a new emergency contraceptive option."
"We are excited to further our international expansion by partnering with Watson to bring UPA to the U.S.," said Erin Gainer, CEO of HRA Pharma. "For over a decade, our mission has been to design custom-made solutions in women's health that fill therapeutic gaps and improve overall patient health. Our first step into the U.S. with Watson, who shares this same commitment to women's health care, represents a crucial milestone for us in our vision of making UPA available to women worldwide."
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