NexMed Licenses Nail Fungus Drug to Novartis
Filed in archive Patents and Intellectual Property Rights by ruth on September 16, 2005
Onychomycosis is a fungal infection
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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