Nicox’s US Licensee Eyevance Expands U.S. Promotion of Zerviate In Agreement with Hikma
Nicox announced that its exclusive U.S licensee, Eyevance Pharmaceuticals, a wholly-owned subsidiary of Santen Pharmaceutical, has entered into a partnership with Hikma Pharmaceuticals for the co-promotion of Zerviate, indicated for the treatment of ocular itching associated with allergic conjunctivitis.
Hikma will be responsible for promoting Zerviate to US health care professionals working outside the eye care specialty, with all sales continuing to be booked by Eyevance, on which Nicox will receive royalties. Hikma has strong and well-established U.S. commercial capabilities with medical sales representatives deployed across the country, serving the needs of general practitioners and family doctors. Hikma is a top-10 U.S. generic pharmaceutical company, developing, manufacturing and distributing a broad range of branded and non-branded generic medicines for customers and partners. Eyevance will continue to promote Zerviate to ophthalmology and optometry healthcare professionals in the U.S. Nicox and Eyevance have a license agreement for the commercialization of Zerviate in the U.S., where the product has been marketed since March 2020.
“This creative deal by Eyevance, executed in good time for the crucial U.S. spring allergy season, expands their reach to include health care professionals outside eyecare, such as allergists, general and family practitioners and pediatricians, who account for around 40% of the 1 million prescriptions for branded allergy products in the United States,” Gavin Spencer, Chief Business Officer of Nicox, said in a company news release. “The partnership may thus lead to an increase in sales and demonstrates Eyevance’s strong commitment to maximizing the value of the Zerviate franchise in the United States.”
Under Nicox’s licensing agreement with Eyevance, Nicox is eligible for up to $37.5 million in milestones payable on Eyevance achieving pre-defined sales targets, with $30 million of these milestones being triggered by annual sales of $100 million and above. Nicox also receives tiered royalties1 of 8% to 15% on net sales of Zerviate in the U.S., including those made as a result of promotion by Hikma. Eyevance is responsible for all manufacturing, regulatory and commercialization activities for Zerviate in the United States, where Zerviate is protected by patents expected to remain in force until 2030 and 2032.