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Hisamitsu Pharmaceutical Co., Inc.

Drug Names(s): MethyPatch, MTS, Methylphenidate Transdermal System, SPD485

Description: MTS is a transdermal system for the delivery of methylphenidate, a central nervous system stimulant. The mode of methylphenidate therapeutic action in ADHD is not known. Methylphenidate is thought to block the reuptake of norepinephrine and dopamine into the presynaptic neuron and increase the release of these monoamines into the extraneuronal space.

Deal Structure: Noven and Shire
In the first quarter of 2003, Noven signed an agreement to license the exclusive global rights to market the methylphenidate patch to Shire for payments of up to $150.0 million and ongoing manufacturing revenues. Consideration for the transaction is as follows: (i) $25.0 million was paid upon closing of the transaction in April 2003; (ii) $50.0 million is payable upon receipt of final marketing approval for the methylphenidate patch by the FDA; and (iii) three installments of $25.0 million each are payable upon Shires achievement of $25.0 million, $50.0 million and $75.0 million in annual net sales of the methylphenidate patch, respectively. Shires annual net sales will be measured quarterly on a trailing 12-month basis, with each milestone payment due 45 days after the end of the first quarter during which trailing 12-month sales exceed the applicable threshold. On the closing date, Noven entered into a long-term supply agreement under which they expect to...See full deal structure in Biomedtracker

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