Cipla’s wholly owned subsidiary in USA – Cipla USA Inc., has signed a worldwide licensing agreement (except for East Asia) with MEDRx Company (MEDRx) to further develop and commercialize MRX-4TZT, a Tizanidine patch for the management of Spasticity.
Under the terms of the agreement, MEDRx is eligible to receive up to $30 million cumulatively through upfront and developmental, regulatory, and commercial milestones payments. MEDRx will also receive tiered royalties on the net sales of commercialized licensed products.
Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. For 80 years, Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 100 countries.