Dr. Reddy's Labs To Sell U.S. And Canada Territory Rights For ELYXYB 25 Mg/mL To BioDelivery

(RTTNews) - Dr. Reddy's Laboratories Limited (RDY) said that it will sell its U.S. and Canada territory rights for ELYXYB (celecoxib oral solution) 25 mg/mL, to BioDelivery Sciences International Inc. (BDSI).

As per the terms of deal, Dr.Reddy's will receive U.S.$6 million upfront upon closing followed by U.S.$9 million one year from closing. Further, Dr. Reddy's is eligible to receive event based, sales based milestones and quarterly earn-out payments.

ELYXYB (previously known as DFN-15) is indicated for the acute treatment of migraine with or without aura in adults.