Ranbaxy purchases Senetek's autoinjector rights and assets
Senetek PLC announced the sale to Ranbaxy Pharmaceuticals Inc. of Senetek's patents, trademarks and automated manufacturing equipment for its proprietary disposable autoinjector for self-administration of parenteral drugs, including epinephrine for emergency treatment of anaphylactic shock from peanut and other allergies.
The agreement provides for a non-refundable payment on signing and milestone payments based on regulatory approvals and cumulative sales milestones. Terms also include a percentage of Ranbaxy's and/or its licensees' quarterly net sales of the product(s). Initially, Ranbaxy will focus on pre-filling the autoinjector device with epinephrine. Ranbaxy will also evaluate the development of other parenteral drugs.
Ranbaxy will be making infrastructure investments, including building out the required clean room suites at its facility in New Brunswick, New Jersey to house the highly automated Reliaject production line. Under the agreement, Ranbaxy will be obtaining regulatory approvals and marketing the product. Ranbaxy has also agreed to negotiate with Senetek's licensees for Invicorp for contract manufacturing agreements to produce the autoinjector pre-filled with Invicorp.
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