Actavis has entered into a binding letter of intent (LOI) with QRxPharma to commercialize MoxDuo IR in the United States.
Under the terms of the LOI, Actavis gets exclusive rights to launch and market MoxDuo IR, a patented 3:2 ratio fixed dose combination of morphine and oxycodone for the $2.5 billion US acute pain market. The product launch in the US is expected in Q3 2012. Pre-launch preparations will begin immediately.
Claudio Albrecht, CEO Actavis, stated, "This partnership represents a major step in our strategy to further strengthen our position as one of the major players in the segment of pain management in the US. Furthermore, as this latest development highlights, Actavis is serious in its quest to be ahead of the changing generic pharmaceutical industry. In the future, there will not be such a clear difference between innovator and generic companies. The lines between the two models are blurring. The generics business as we know it today will be gone within the next 10 years."
Actavis may serve as a contract supplier for MoxDuo IR in the US market. Under the terms of the LOI, QRxPharma retains full flexibility to market MoxDuo IR outside the US.
The agreement also provides Actavis with an option for US marketing and sales rights of QRxPharma's chronic pain controlled release Dual-Opioid, MoxDuo CR, as well as its hospital based intravenous formulation, MoxDuo IV. The exercise of the option for MoxDuo CR by Actavis is contingent upon the achievement of certain sales milestones for MoxDuo IR. The option for MoxDuo IV will lapse on a date certain if not exercised by Actavis.