Durham-based Inspire Pharmaceuticals, Inc. (www.inspirepharm.com) has forged a co-promotion agreement with global healthcare company Allergan, Inc. The two companies have entered into a co-promotion agreement in the United States for the drug Elestat, which received FDA approval in October 2003 for the prevention of itching associated with allergic conjunctivitis.
Under the terms of the agreement, Inspire will provide California-based Allergan (www.allergan.com) with an up-front payment and Allergan will pay a royalty to Inspire on Elestat net sales. In addition, this agreement calls for Allergan to reduce its existing royalty payment to Inspire for the drug Restasis, which was covered by a previous agreement between Allergan and Inspire. According to company reports, Inspire will have the primary responsibility for selling, promotional and marketing activities related to Elestat. Allergan and Inspire will work collaboratively on overall product strategy and management.
Inspire Pharmaceuticals is a CED member.