10/19/2005 5:11:55 PM
Indevus Pharmaceuticals, Inc. (NASDAQ: IDEV) today announced a licensing agreement between Grupo Ferrer and IVAX Corporation for citicoline, an oral neuroprotective therapy for the treatment of stroke. Under the terms of this agreement, IVAX will be responsible for fulfilling the requirements for FDA approval of citicoline for acute stroke and for commercializing citicoline in the United States. The financial terms were not disclosed. Under an agreement between Indevus and Grupo Ferrer signed earlier this year, Indevus will receive a portion of milestone payments made to Ferrer by a third party in connection with the development of citicoline, as well as royalties on net sales of the product. In exchange, Indevus granted Ferrer exclusive rights to its patents and know-how related to citicoline.
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