Meda has signed a long-term license agreement with the specialty division of Mylan Inc., Dey Pharma, L.P., for exclusive marketing and distribution rights of EpiPen® (epinephrine) Auto-Injector in Europe. EpiPen is used for emergency treatment of severe allergic reactions (anaphylaxis). Anaphylaxis can occur quickly (often within a couple of minutes) and may be life-threatening.
EpiPen is a well-established brand and is the market leader in several European countries as well as other parts of the world, including the U.S. Beginning in 2011, the distribution rights to EpiPen for Europe will be transferred to Meda from current distributors. As part of the agreement with Dey, Meda will pay a combination of up-front and milestone payments totaling a mid-single million EUR figure. The current market size for epinephrine auto-injectors in Europe is approximately 40 MEUR.
“EpiPen strengthens our allergy franchise in Europe, and we look forward to working closely with Dey to ensure that this important and life-saving product is accessible to those who are at-risk of an allergic emergency,” said Anders Lönner, CEO Meda AB.
Meda’s exclusive rights to the product also include the next generation EpiPen, featuring more patient-friendly features. The next generation EpiPen is currently available in many markets outside of Europe, including the U.S. Meda will be responsible for regulatory filings in Europe of the next generation EpiPen.