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Endo International plc
Drug Names(s): frovatriptan succinate, Allegro
Description: Frovatriptan is a 5-HT receptor agonist that binds with high affinity to 5-HT1B and 5-HT1D receptors. Frovatriptan has no significant effects on GABA mediated channel activity and has no significant affinity for benzodiazepine binding sites. Frovatriptan is believed to inhibit excessive dilation of extracerebral intracranial arteries in migraine.
Deal Structure: Vernalis originally licensed Frova from SmithKline Beecham in 1994. In 1998, SmithKline Beecham waived its option to commercialize the compound and worldwide marketing rights passed to Vernalis in return for a residual royalty payable to SmithKline Beecham on future worldwide sales of Frova. During 2000, in connection with SmithKline Beechams merger with Glaxo Wellcome plc, Vernalis made two major amendments to the 1994 agreement:
- in July 2000, SmithKline Beecham assigned to Vernalis all of SmithKline Beechams patents covering Frova (with no substantive changes in the royalty arrangements); and
- in December 2000, SmithKline Beecham waived all of its rights to royalties on sales of Frova in return for a series of five $5 million cash payments by Vernalis.
Partners: The Menarini Group Vernalis Group plc
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