Biotie has announced that its partner H.Lundbeck A/S (Lundbeck) has started launching Selincro(TM) in the first European markets, making the new treatment available to alcohol dependent patients in Norway, Finland, Poland and the Baltic countries.
The launch marks the first introduction of a new treatment for alcohol dependence in Europe for more than a decade. Lundbeck will continue the rollout of Selincro in Europe through 2013 and into 2014.
According to the terms of the license agreement between Biotie and Lundbeck for Selincro, Biotie is eligible for milestone payments upon commercial launch of Selincro in France, Germany, Italy, Spain, and the UK, some of which may occur in 2013; royalties on sales in all launched markets, which are not expected to give rise to significant revenue in 2013; and a potential contribution to Lundbeck towards any required post approval commitments studies, which are not expected to be significant in 2013.
