Moberg Pharma AB (OMX: MOB) today announced that Moberg Pharma and Cadila Pharmaceuticals Limited – one of the largest healthcare manufacturing groups in India – entered a Development and License Agreement for BUPI – a novel lozenge formulation of bupivacaine for pain management in oral mucositis patients.
Under the Development and License Agreement, Cadila Pharmaceuticals will conduct a phase III program in India and is granted an exclusive license to commercialize BUPI in India and Africa, with the exception of South Africa. Moberg will receive the rights to use all data generated from the Development program outside India and Africa and a royalty on sales in India and Africa. The parties may also agree on a supply agreement for a subsequent commercial phase. Financial terms were not disclosed.