Local firm?s drug for hand disorder approved in Canada

Auxilium President and CEO Adrian Adams said Xiaflex is approved as a treatment for Dupuytren?s? contracture in 33 countries.

Health Canada has approved Xiaflex, a drug developed by Auxilium Pharmaceuticals, as a treatment for the hand disorder Dupuytren?s contracture.

Under the terms of a collaboration agreement between Auxilium (NASDAQ:AUXL) and Actelion Pharmaceuticals Canada Inc. of Quebec, Actelion has exclusive rights to commercialize Xiaflex for the treatment of Dupuytren?s and Peyronie?s disease (an inflammatory condition of the penis) in Canada, Australia, Brazil and Mexico upon receipt of the respective regulatory approvals.

Actelion Pharmaceuticals Canada, a division of Actelion of Basel, Switzerland, expects to begin marking Xiaflex in Canada during the first half of next year.

The approval in Canada triggered a $500,000 payment to Auxilium from Actelion.

Actelion made an upfront payment of $10 million to Auxilium when the deal was signed back in February, and will also make up to $16 million in potential regulatory, pricing and reimbursement milestone payments and $42.5 million in potential sales milestone payments.

?With the Canadian approval, Auxilium has now received regulatory approval of the first, effective nonsurgical treatment for Dupuytren?s? contracture in 33 countries,? said Adrian Adams, president and CEO of Auxilium.

Adams talked more about the company?s plans for Xiaflex in this recent interview with me.

Beat: Health Care, Biotech/Pharmaceutical, Sports

Source: http://feeds.bizjournals.com/~r/vertical_24/~3/o7gsLvqtDzk/local-firms-drug-for-hand-disorder.html

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