Elan and UCB Pharma have agreed to co-promote the new migraine drug frova in the United States.
Elan and UCB will market frova in the second quarter of 2002.
The deal will also have a knock-on effect on Vernalis Group, the biopharmaceutical company that developed the drug. In a statement, Vernalis said that following the agreement with Elan and UCB, it has restructured its loan deal with Elan and will be entitled to royalties.
Under the deal, UCB will co-promote frova with Elan to neurologists using their combined sales forces of 265 field personnel. UCB will also promote frova with its primary care sales force of aboout 475 field representatives.
The co-promotion between the companies covers a seven-year period. At the end of an initial three-year period, Elan will have an option to extend the reduced royalty period by making an additional lump sum payment to Vernalis.