Nicox’s U.S. Licensee Eyevance Expands U.S. Promotion of ZERVIATE® In Agreement with Hikma
February 15, 2021
Sophia Antipolis, France
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced that its exclusive U.S licensee, Eyevance Pharmaceuticals, a wholly-owned subsidiary of Santen Pharmaceutical Co., Ltd, has entered into a partnership with Hikma Pharmaceuticals for the co-promotion of ZERVIATE®, indicated for the treatment of ocular itching associated with allergic conjunctivitis.
Hikma will be responsible for promoting ZERVIATE to U.S. healthcare professionals working outside the eyecare specialty, with all sales continuing to be booked by Eyevance, on which Nicox will receive royalties. Hikma has strong and well-established U.S. commercial capabilities with medical sales representatives deployed across the country, serving the needs of general practitioners and family doctors. Hikma is a top-10 U.S. generic pharmaceutical company, developing, manufacturing and distributing a broad range of branded and non-branded generic medicines for customers and partners. Eyevance will continue to promote ZERVIATE to ophthalmology and optometry healthcare professionals in the U.S. Nicox and Eyevance have a license agreement for the commercialization of ZERVIATE in the U.S., where the product has been marketed since March 2020.
Gavin Spencer, Chief Business Officer of Nicox, said: “This creative deal by Eyevance, executed in good time for the crucial U.S. spring allergy season, expands their reach to include healthcare professionals outside eyecare, such as allergists, general and family practitioners and pediatricians, who account for around 40% of the 1 million prescriptions for branded allergy products in the United States. The partnership may thus lead to an increase in sales and demonstrates Eyevance’s strong commitment to maximizing the value of the ZERVIATE franchise in the United States.”
Under Nicox’s licensing agreement with Eyevance, Nicox is eligible for up to $37.5 million in milestones payable on Eyevance achieving pre-defined sales targets, with $30 million of these milestones being triggered by annual sales of $100 million and above. Nicox also receives tiered royalties of 8% to 15% on net sales of ZERVIATE in the U.S., including those made as a result of promotion by HIKMA. Eyevance is responsible for all manufacturing, regulatory and commercialization activities for ZERVIATE in the United States, where ZERVIATE is protected by patents expected to remain in force until 2030 and 2032.
Hikma helps put better health within reach every day for millions of people in more than 50 countries around the world. For more than 40 years, we’ve been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across the United States (US), the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people’s lives. We’re committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 8,600 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com.
ZERVIATE® (cetirizine ophthalmic solution), 0.24% is a novel formulation of cetirizine developed and approved for the first time for topical application in the eye for the treatment of ocular itching associated with allergic conjunctivitis. Cetirizine, the active ingredient in ZYRTEC®, is a second-generation antihistamine (H1 receptor antagonist) that binds competitively to histamine receptor sites. Cetirizine, in approved oral formulations, has a well-characterized systemic efficacy and safety profile with worldwide exposure resulting from 20 years of oral use. ZERVIATE was developed by Nicox as the first and only formulation of cetirizine for topical application in the eye. For further details of ZERVIATE in the U.S., please go to www.myzerviate.com.
ZERVIATE is also licensed exclusively to Ocumension Therapeutics in the Chinese and South East Asian markets, Samil Pharmaceutical in South Korea and ITROM Pharmaceutical Group for Gulf and Arab Markets.
About Allergic Conjunctivitis
Allergic conjunctivitis occurs when an allergic reaction causes conjunctivitis. Conjunctivitis is an inflammation of the thin layer of tissue that lines the outside of the white surface of the eye and the inner surface of the eyelids. It may affect one or both eyes. The signs and symptoms may include eye redness, excessive watering, itchy burning eyes, discharge, blurred vision and increased sensitivity to light.
 Nicox committed to pay to Eyevance certain manufacturing costs, which will be deducted from these royalty payments, reducing the effective royalty initially to 5% net until such costs are paid