Allergan agrees potential US$362m licensing deal with Medytox


To develop neurotoxin products including a liquid-injectable treatment

US-based specialist pharmaceutical firm Allergan has entered into a licensing agreement with biopharmaceutical firm Medytox of Korea to develop certain neurotoxin product candidates currently in development.

The deal includes a potential liquid-injectable product.

Allergan will pay Medytox US$65m up front, in addition to a possible $116.5m in development milestones plus another $180.5m in sales milestones.

Under the agreement, Medytox will grant Allergan exclusive rights, worldwide outside Korea, to the new drugs.

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The transaction closure is dependent on obtaining certain government approvals.