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NexMed Licenses Nail Fungus Drug to Novartis

Filed in archive Patents and Intellectual Property Rights by ruth on September 16, 2005

Novartis AG gets exclusive worldwide rights to NexMed's proprietary NM100060 nail lacquer treatment for onychomycosis, commonly known as nail fungus. NM100060 is currently in Phase 1 development in the U.S.

Onychomycosis is a fungal infectionlinks affecting the toenails and/or fingernails and is one of the most common dermatological diseases affecting an estimated 30 million Americans. The current market for this therapeutic indication is estimated at about $2 billion worldwide.

Of note to investors: Shares of NexMed Inc. hit a new 52-week high following the announcement. A playback of a conference call discussing the agreement is available here until Sept. 22. Account # 286 and ID# 169296 are required for access.

Novartis already owns the rights to a similar drug, Lamisil (Terbinafine), whose patents are expiring in 2006, which explains the Novartis' interest in NexMed's nail lacquer.

Read NexMed's press release here.

Photo Credits: SkinSite.com


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