February 28, 2018 – Kaken Pharmaceutical Co., Ltd. (“Kaken”, head office Bunkyo-ku, Tokyo; President and Representative Director Tetsuo Onuma) and a subsidiary of Valeant Pharmaceuticals International, Inc. (“Valeant”, head office LAVAL, Quebec, Canada; Chairman and CEO Joseph C. Papa), announced today that Kaken and Valeant has entered into an exclusive license agreement to develop and commercialize products containing an investigational compound, KP-470, a new chemical entity , which is being studied for the topical treatment of psoriasis.
Under the terms of the licensing agreement, Kaken has granted to Valeant an exclusive license to develop and commercialize topical products containing KP-470 to treat dermatological and rheumatological disorders and conditions. Valeant will have rights to develop and commercialize products with KP-470 in the United States, Canada, and Western and Eastern Europe.
Under the license agreement, Kaken received an upfront cash payment and has the potential to receive certain development-based milestone payments, as well as additional milestone payments based on the achievement of certain annual sales milestones. Additionally, Kaken will receive royalties on Valeant’s net sales of the product.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. More information about Valeant can be found at http://www.valeant.com.