Actavis acquires worldwide rights to Palau Pharma's Albaconazole - An oral antifungal agent in clinical development

 Actavis, Inc. and Palau Pharma, S.A. today announced that Actavis Specialty Brands has acquired worldwide rights to Palau Pharma's Albaconazole development product, an oral antifungal agent for the treatment of vulvo-vaginal candidiasis, onychomycosis and other antifungal applications.

Albaconazole is a new oral triazole discovered at Palau Pharma, with a potent broad-spectrum antifungal activity, and an excellent safety profile, that has demonstrated high efficacy in patients suffering from vulvo-vaginitis, and onychomycosis.

Under the terms of the agreement, Palau receives an initial cash payment and will receive additional future payments based on milestones to be reached during the development of the product.  Financial terms of the agreement have not been disclosed. 

"Based on clinical results to date, we believe that Albaconazole has the potential to be a best-in-class therapy for the treatment of vulvo-vaginal candidiasis and onychomycosis conditions," said Enrique Uriach, Chairman of the Board of Palau Pharma.  "This transaction recognizes and validates, once more, the quality of science developed at Palau.  Furthermore, Actavis, as a leader in the Women's Health sector, will provide the resources, leadership and expertise to rapidly advance the development of Albaconazole, and make it a commercial success".

"The addition of Albaconazole to our pipeline provides an excellent opportunity for Actavis to build on our leadership position in Women's Health and to expand our dermatology portfolio on a worldwide basis," said Fred Wilkinson, President, Actavis Specialty Brands.  "Currently in Phase II trials, Albaconazole could potentially launch in the U.S. and the EU in 2017."

Read more here: http://www.sacbee.com/2013/08/06/5626840/actavis-acquires-worldwide-rights.html#storylink=cpy

Read more here: http://www.sacbee.com/2013/08/06/5626840/actavis-acquires-worldwide-rights.html#storylink=cpy

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