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Allergan inks neurotoxin license deal with Medytox
November 2013
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IRVINE, Calif.—A license agreement was announced late last month between healthcare company Allergan Inc. and Medytox Inc., a biopharmaceutical company that focuses on the development, manufacture, marketing and sales of neurotoxin products. The company was the first in Korea to develop a botulinum toxin product. Under the license agreement, Allergan will pay Medytox $65 million up front for exclusive rights, worldwide excluding Korea, to develop and commercialize select neurotoxin product candidates currently under development. In addition, Allergan will also make additional contingent payments of up to $116.5 million if certain development milestones are met, up to $180.5 million if certain commercialization milestones are met and royalties on product sales. The transaction’s closing is dependent on certain government approvals.
 
 
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