Shares of Vivus rose almost 10 percent in pre-market trade to $6.03, while those of KV were up about 3.5 percent, amid thin trade, at $28.10.
KV bought the U.S. marketing rights for the product, Evamist, from California-based Vivus earlier this year. The agreement required KV to pay $140 million in cash upon the approval of Evamist's new drug application.
Vivus expects the payment five days after the transfer of the marketing application, which may happen by Aug. 3.
Vivus can also get some one-time milestone payments of up to $30 million based on net annual sales of Evamist.
KV intends to launch the product during the second half of fiscal 2008.
Evamist is an estrogen skin spray to treat symptoms of menopause, which occur when the ovaries stop producing the sex hormone estrogen. These include hot flashes, discomfort or pain during sexual intercourse, and changes in skin and hair.
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