Hungarian-Belgian Pharmaceutical Agreement

The Hungarian pharmaceutical company Richter and the Belgian pharma firm Mithra strengthen their partnership with the signing of a license and supply agreement for the commercialization of a novel oral contraceptive to Latin America.

Gedeon Richter Plc. and Estetra S.A, the wholly owned subsidiary of Mithra Pharmaceuticals, have announced that they extended their partnership and signed a license and supply agreement for the commercialization of a novel 15 mg estetrol (E4) / 3 mg drospirenone containing combined oral contraceptive, in order to include key markets in Latin America, according to the released press statement.

The product candidate is considered a novel oral contraceptive with natural, native estrogen acting selectively in tissues combined with additional benefits of drospirenone. Richter and Mithra partnered for the commercialization of this novel oral contraceptive in Europe and in Russia earlier.
Under the terms of this agreement, Richter will distribute Mithra’s product in key markets in Latin America (Mexico, Chile, Colombia, Peru and Ecuador) with an option for other markets except for Brazil and Argentina. Richter made upon signature of the contract an upfront payment. Additional milestone payments will be made depending on the progress of the regulatory process of the product. Besides, further sales related milestones will become payable to Mithra subsequent to the launch of the product. Moreover, Mithra and Richter agreed on minimum annual quantities and Mithra will receive tiered royalties on net sales. Currently, Europe and Latin America are respectively the second (EUR 1.6 billion) and third (EUR 1 billion) largest world markets in terms of value, behind the United States.

“We remain committed to the development and commercialization of Women’s Healthcare products that support the improvement of the quality of life for the female population in all age groups. This transaction is considered to be a further strategic move to strengthen Richter’s direct position in Latin America and at the same time to become gradually a global Women’s Healthcare player,” Richter Chairman Erik Bogsch commented.