Menarini Launches PE Drug in UK

The Menarini Group has launched Priligy, an on-demand treatment of premature ejaculation, in the UK. Priligy is marketed for that indication in more than 20 countries in Europe, Asia and Latin America, and is approved for that indication in more than 60 countries worldwide.

The UK launch triggered a $5.0 million milestone payment from Menarini to Furiex Pharmaceuticals, Inc. (FURX), a drug development collaboration company. In May 2012, Furiex entered into a license agreement with Menarini to commercialize Priligy in Europe, most of Asia, Africa, Latin America and the Middle East. Under the terms of the license agreement, Furiex is eligible to as much as $40.0 million in sales-based milestones, plus tiered royalties ranging from the mid-teens to mid-twenties in percentage terms.