Benzinga | Jan 5, 2021 08:22AM EST

Radius Health Announces Commercial Agreement With Paladin Labs For Abaloparatide in Canada

* Agreement incorporates TYMLOS(r) and abaloparatide-TD

* Consideration includes upfront payment, milestones based on clinical, regulatory and commercial progression, as well as royalties

* Key first step in expanding the global footprint for the abaloparatide asset beyond the U.S. and Japan; a key focus area for the company for 2021

BOSTON, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Radius Health, Inc. ("Radius" or the "Company") (NASDAQ:RDUS) today announced that the Company has entered into definitive agreements with Endo Ventures Limited, a subsidiary of Endo International plc ("Endo") (NASDAQ:ENDP), to register, commercialize, and distribute abaloparatide on an exclusive basis in Canada. Paladin Labs Inc. ("Paladin"), an operating company of Endo, will be responsible for all commercial activities related to abaloparatide. Under the terms of the agreements, Paladin will pay Radius upfront and milestone payments up to approximately $8.0 million and tiered royalties up to the mid-twenties on net sales in Canada.

In accordance with the terms of the agreements, Paladin will license Radius' abaloparatide subcutaneous injection, TYMLOS(r), and abaloparatide novel transdermal device ("abaloparatide-TD") for the Canadian market. Paladin will be responsible for the registration distribution, sales, marketing, medical affairs, pricing and reimbursement activities in connection with abaloparatide. Radius will be responsible for supplying the drug to Paladin.

"Reaching an agreement with Paladin in Canada demonstrates both the interest in and opportunity to expand the global footprint of abaloparatide in select ex-U.S. markets. This is one of several key priorities for us and our goal is to make additional progress throughout 2021," said Cole Ikkala, Head of Business Development at Radius.

Paladin is targeting to file a New Drug Submission (NDS) to Health Canada for TYMLOS(r) by the first quarter of 2022. The Company will provide additional business updates as and when appropriate.