VIVUS, Metuchen Pharmaceuticals announces license agreement
VIVUS and Metuchen Pharmaceuticals announced an agreement providing Metuchen a fully-paid, perpetual license for exclusive rights to commercialize STENDRA in the U.S., Canada, South America and India. The parties simultaneously signed a commercial supply agreement pursuant to which VIVUS will be responsible for the manufacture and supply of STENDRA to Metuchen for a mutually agreed term. For a period of 180 days, Metuchen has the option to assume the manufacturing and supply rights of STENDRA for its territories. Under the license agreement, VIVUS received $70M. Additionally, Metuchen will be responsible for royalties due to Mitsubishi Tanabe Pharma Corporation based on net sales.