Inspire Pharmaceuticals Inc unveils DIQUAS for dry eye patients in Japan
December 14 - Tradingmarkets.com
Biopharmaceutical company Inspire Pharmaceuticals Inc (NASDAQ: ISPH | PowerRating) revealed on Monday the receipt of pricing approval of DIQUAS Ophthalmic Solution 3% (diquafosol tetrasodium) as a new treatment option for dry eye patients in Japan.
The product DIQUAS has been launched today in Japan by the company's partner, Santen Pharmaceutical Co Ltd.
Under an agreement, Inspire will receive a related milestone payment of USD1.25m in the fourth quarter of 2010 as well as is entitled to receive payments based upon a tiered royalty rate on net sales of DIQUAS in Japan, with a minimum rate in the high single digits and a maximum rate in the low double digits.