Pharma major Dr. Reddy’s Laboratories Ltd has out-licensed the future development, manufacturing, and commercialisation 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 plaque psoriasis. Dr. Reddy’s on Tuesday said under the agreement, Encore will be responsible for the commercialisation of DFD-06 in the U.S. The out-licensing is to be done through DRL’s wholly-owned subsidiary Promius Pharma, LLC.
Promius Pharma is eligible to receive certain pre- and post- commercialisation 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 realise the full potential of this asset DFD-06,” said Anil Namboodiripad, senior VP, Proprietary Products, and president, Promius Pharma.
The company, he said in a release, looked “forward to obtaining NDA approval this fall, enabling Encore’s management team to quickly deliver this product to the providers and their patients,” he said.