Dr Reddy’s Labs, through its wholly-owned subsidiary Promius Pharma announced that it has out-licensed the future development, manufacturing, and commercialization rights of DFD-06, a topical high potency steroid, to Encore Dermatology Inc. The drug is intended to be used for treatment of moderate to severe plaque psoriasis, says a company release.
Under the terms of the agreement, Encore will be responsible for the commercialization of DFD-06 in US. Promius is eligible to receive certain pre- and post- commercialization milestone payments of up to $32.5 million, followed by fixed royalty payments on net sales.
“We believe Encore and its management team are well positioned to realize the full potential of this asset DFD-06. We look forward to obtaining NDA approval this fall, enabling Encore’s management team to quickly deliver this product to the providers and their patients.” says senior vice president proprietary products and president, Promius Pharma.