Horizon Pharma, Inc. (HZNP) and Mallinckrodt, LLC the Pharmaceuticals business of Covidien (COV), announced that they have entered into a U.S. co-promotion agreement for DUEXIS, which is indicated for the relief of signs and symptoms of rheumatoid arthritis and osteoarthritis and to decrease the risk of developing upper gastrointestinal ulcers.
As per the terms of the agreement, Horizon granted Mallinckrodt the right to co-promote DUEXIS in United States through December 31, 2014 with the potential to renew for additional periods. Horizon and Mallinckrodt have consented that Mallinckrodt will promote to targeted physicians and is entitled to receive performance-based compensation.
The Mallinckrodt sales force is expected to begin promoting DUEXIS to physicians in August 2012. Horizon will continue to record all revenues for DUEXIS and will remain responsible for DUEXIS manufacturing, supply and regulatory activities.
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