- Nuvo Pharmaceuticals (OTCQX:NRIFF) announces that it has entered into a license and distribution agreement with Gebro Pharma AG, a Switzerland-based affiliate of Gebro Holding GmbH for the exclusive rights of Pennsaid 2% in Switzerland and Liechtenstein (the Territory).
- The License Agreement grants Gebro Pharma the exclusive rights throughout the Territory to register, market, sell and distribute Pennsaid 2% as a non-prescription drug for the human treatment of osteoarthritis of the knee and acute pain from sprains and strains.
- Nuvo will provide with its existing regulatory dossier and the FDA approval. Nuvo will receive milestone payments and royalties on net sales of Pennsaid 2% and will earn product revenue from Gebro Pharma pursuant to an exclusive supply agreement.
- FDA approved Pennsaid 2% is a topical non-steroidal anti-inflammatory drug containing 2% diclofenac sodium.
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