Iconovo, which develops complete inhalation products for a global market, is expanding its collaboration with Amneal for Symbicort in the ICOres inhaler to include additional territories with a potential for future annual royalty income more than doubling to $13.2 to 26.4 million. Iconovo also acquired the license to sell Amneal's generic versions of Symbicort in the Nordic region.
Iconovo and Amneal develop a generic Symbicort in the inhaler ICOres. The project is now entering the final phase, and Amneal has begun the set-up of commercial manufacturing for a global market. The original agreement mainly covered sales in Europe, Canada, Australia, Russia and some smaller emerging markets.
“We are very pleased to have been able to expand our agreement with Amneal. It is a very strong and positive signal that Symbicort in the ICOres inhaler is a product with great international potential. Financially, this is an important event for Iconovo,” said Iconovo CEO Johan Wäborg.
The new, expanded agreement gives Amneal the right to sell in the U.S. and China as well, and now covers approximately 90% of the total global Symbicort market.
“Symbicort is a perfect example of the complex generic products that we’re aiming to bring to market over the coming years,” said Gregory Sgammato, head of global corporate development at Amneal. “It is a high-value, drug-device combination in the respiratory space, which ensures it will remain an attractive global opportunity for the foreseeable future. Iconovo has been a fantastic partner and we look forward to working with them as we launch and commercialize this product.”