WASHINGTON Sciele Pharma has announced that its business partner, Addrenex, has filed for Food and Drug Administration approval of its hypertension treatment CloniBid.
According to published reports, Addrenex is expecting about $11 million in milestone payments on the drug, which does not include royalty payments.
Sciele Pharma is an Atlanta-based company that took a $6 million equity stake in Addrenex in June 2007. This stake has earned them market rights to CloniBID and Clonicel. Clonicel is a drug that is used for the treatment of deficit/hyperactivity disorder for which Sciele purchased commercialization rights from the Durham Drug Company.
Due to the submission of the drug for the FDA, Sciele is expecting a launch for CloniBID in the first half of 2009.