GW Pharma re-acquires US rights to Sativex, a treatment for cancer pain, from Otsuka.
GW Pharmaceuticals plc , a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced the termination of its previous license agreement with Otsuka Pharmaceutical Co., Ltd. in relation to Sativex (nabiximols) in the U.S.
As a result, GW has now reacquired full ownership of the development and commercialization rights to the product in the U.S. market without making any upfront payment to Otsuka. GW has agreed to make contingent milestone payments to Otsuka, the first of which would become due upon FDA approval of Sativex and thereafter additional payments would become due upon the achievement of certain annual sales thresholds of Sativex in the United States.
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