Orexigen Therapeutics Inc. has reached an agreement to distribute weight-loss drug Mysimba in Italy.
Orexigen's fully owned subsidiary Orexigen Therapeutics Ireland Ltd. and Bruno Farmaceutici SpA executed.
Up to 40 percent of Italian adults struggle with their weight, according to an announcement. The European Medicines Agency has approved Mysimba for adults with a body mass index of 27 or higher who also suffer from weight-related conditions such as Type 2 diabetes or hypertension. Mysimba is used as an adjunct to a low-calorie diet and exercise plan.
"Bruno Farmaceutici S.p.A. is an outstanding partner to bring Mysimba to the Italian market," Orexigen CEO Mike Narachi said in the announcement. "This agreement, our fourth partnership in Europe, brings us into another major European market. As we continue to advance our ex-U.S. commercialization strategy, we now have partnerships in a total of 39 countries worldwide and strong alliance management capabilities to support our partners in bringing Contrave and Mysimba to patients who struggle to lose weight."
Orexigen will provide Mysimba to Bruno, which will be responsible for the distribution, commercialization and expenses in making the weight-loss medication available to patients in Italy. Orexigen will receive a transfer price and upfront milestone payments. Sales levels will determine additional payments.