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QRxPharma Announces MOXDUO License Deal In Israel
Date:11/27/2013

SYDNEY and BEDMINSTER, N.J., Nov. 27, 2013 /PRNewswire/ -- QRxPharma Limited (ASX: QRX and OTCQX: QRXPY) announced today execution of a licensing agreement with ABIC Marketing Limited, the Israeli domestic subsidiary of Teva Pharmaceutical Industries Limited, for the commercialisation rights to immediate release MOXDUO in Israel.

"We are pleased to announce our strategic collaboration with Teva, the leading pharmaceutical marketing company in Israel and one of the largest in the world," said Dr. John Holaday, Managing Director and Chief Executive Officer, QRxPharma. "The company's reputation, dedicated pain sales team and long-standing relationships with Israeli key opinion leaders will be an asset to the launch of MOXDUO in this market."

Under the licensing agreement, Teva will receive the exclusive rights to commercialise immediate release MOXDUO in Israel. Teva will assume responsibility for all regulatory and product launch costs as well as ongoing marketing and sales efforts. QRxPharma will receive an undisclosed up-front payment, regulatory and sales milestones, and double-digit royalties on the sales of immediate release MOXDUO in Israel. QRxPharma retains all rights to the intravenous and controlled release formulations of MOXDUO in the territory.

"Teva's interest in MOXDUO, together with that of Actavis, Paladin and Aspen, validate the need for safer opioids in the treatment of moderate to severe pain, and further endorse the commercial value of MOXDUO," added Holaday. "We are delighted to be working with such successful companies for the global commercialisation of immediate release MOXDUO."

QRxPharma will work with Teva to submit a marketing authorisation application to the Israeli health authority following approval of immediate releas
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SOURCE QRxPharma
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