Dey awards Critical Theraputics $5 million milestone payment for Zyflo

LEXINGTON, Mass. Critical Therapeutics has received $5 million as part of a milestone payment from Dey as part of their co-promotional agreement between the companies for Zyflo CR, a drug for the prophylaxis and chronic treatment of asthma in adults 12 years of age and older.

“We are seeing steady growth in new prescriptions of Zyflo CR and are encouraged by the progress we have achieved since the launch of Zyflo CR in late September,” said Frank Thomas, president and chief executive officer of Critical Therapeutics. “Critical Therapeutics and Dey’s combined sales forces of 240 representatives are promoting Zyflo CR to approximately 18,000 allergists, pulmonologists and primary care physicians across the country.”

Dey’s $5 million milestone payment to Critical Therapeutics was triggered by the commercial launch of Zyflo CR. Critical Therapeutics has now received a total of $12 million from Dey as part of the companies’ co-promotional agreement. Critical Therapeutics received $3 million from Dey upon signing the co-promotional agreement in the first quarter of 2007 and $4 million upon the Food and Drug Administration’s approval of Zyflo CR in the second quarter of 2007.