RedHill Biopharma Announces Exclusive U.S. Co-Promotion Agreement with Concordia for GI Drug Donnatal®

TEL-AVIV, Israel, Jan. 04, 2017 (GLOBE NEWSWIRE) -- RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases and cancer, today announced the signing of an exclusive co-promotion agreement with a subsidiary² of Concordia International Corp. (NASDAQ:CXRX) (TSX:CXR) (“Concordia”), an international specialty pharmaceutical company focused on generic and legacy pharmaceutical products and orphan drugs, granting RedHill certain U.S. promotion rights for Donnatal^®, a prescription oral drug used with other drugs in the treatment of irritable bowel syndrome (irritable colon, spastic colon, mucous colitis) and acute enterocolitis (inflammation of the small bowel)³.

Under the terms of the agreement, RedHill will be responsible for certain promotional activities related to Donnatal^®. Concordia will continue to be responsible for the manufacturing and supply of Donnatal^® in all territories. Donnatal^® accounted for 7.7% of Concordia’s consolidated revenues in the first half of 2016⁴. RedHill and Concordia will share the revenues generated from the promotion of Donnatal^® by RedHill based on an agreed upon split between them. The initial term of the co-promotion agreement with Concordia is for three years. RedHill expects to initiate gradual promotion of Donnatal^® in the coming months.

SOURCE : RedHill Biopharma Ltd