Actavis Specialty Brands has acquired worldwide rights for Valeant's Metronidazole 1.3% vaginal gel antibiotic development product for approximately $55m.
Metronidazole 1.3% vaginal gel antibiotic development product is a topical antibiotic developed for the treatment of bacterial vaginosis.
The agreement includes upfront and certain milestone payments in addition to minimal royalties for the first three years of commercialization.
Valeant executive vice president and company group chairman Laizer Kornwasser said, "We believe this compound has significant potential to help patients in need of new treatment."
Actavis Specialty Brands president Fred Wilkinson said, "Assuming a filing of later this spring, Metronidazole could potentially launch in the U.S. in mid-2014."
