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news.Anacor Pharmaceuticals (ANAC) announced an amendment to its distribution and commercialization agreement with Sandoz, a Novartis company, pursuant to which PharmaDerm, the branded dermatology division of Sandoz, distributes and commercializes KERYDIN (tavaborole) topical solution, 5%, in the United States.
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Pursuant to the amendment, Sandoz will increase its commercial investment in KERYDIN in 2015, and Anacor will contribute $20 million to Sandoz, primarily focused on consumer-directed commercialization activities.
The parties’ increased investment in support of KERYDIN in 2015 includes Sandoz’s previously expanded field-sales force and a new multi-channel integrated marketing campaign.
In addition, the amendment increases the minimum profit-sharing payments to Anacor for 2016 to $65 million from $45 million and establishes new minimum profit-sharing payments to Anacor for 2017 of $65 million.
The amendment also reduces the price associated with Anacor’s option to repurchase all rights in KERYDIN from Sandoz on December 31, 2017, as determined pursuant to the distribution and commercialization agreement.
"We are pleased with Sandoz’s increased investment to support the continued long-term growth of the KERYDIN brand and believe that our contribution to fund the consumer-directed investment will help increase brand awareness among the patients suffering from onychomycosis who are most likely to use KERYDIN and motivate them to seek treatment from their physicians," said Paul L. Berns, Chairman and Chief Executive Officer of Anacor.