MELBOURNE, Australia--(BUSINESS WIRE)-- Biota Holdings Limited (ASX:BTA) advises that it has received written notification from Daiichi Sankyo that sales of Inavir® were JPY 3.9 billion and royalties to Biota were AUD 1.6 million in the three months to 31 March 2011.
Royalties are after allowance for specified selling costs and Japanese withholding tax. Under the agreement with Daiichi Sankyo, Biota expects to receive these funds by the end of May.
Inavir® is the first drug of a new class of long acting neuraminidase inhibitors (LANIs) to address the limitation of the current products, which require daily or more frequent dosing. The new class provides the opportunity to medicate patients on a "one and done" basis and offers a number of potential benefits. These include that the patient is more likely to use the product properly and as intended and also offers a reduced cost of storage and transport per course, where the product is intended to be stockpiled. Inavir® is Daiichi Sankyo's registered brand for laninamivir octanoate, also previously known as CS-8958. Inavir® is delivered via a Dry Power Inhaler.
Biota is a leading anti-infective drug development company based in Melbourne Australia, with key expertise in respiratory diseases, particularly influenza. Biota developed the first-in-class neuraminidase inhibitor, zanamivir, subsequently marketed by GlaxoSmithKline as Relenza. Biota research breakthroughs include a series of candidate drugs aimed at treatment of respiratory syncytial virus (RSV) disease and Hepatitis C (HCV) virus infections. Biota has clinical trials underway with its lead compound for human rhinovirus (HRV) infection in patients with compromised respiration or immune systems.
In addition, Biota and Daiichi Sankyo co-own a range of second generation influenza anti-virals, of which the lead product lnavir®, is approved for marketing in Japan.
Relenza™ is a registered trademark of the GlaxoSmithKline group of companies.
Inavir® is registered to Daiichi Sankyo.
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KEYWORDS: Australia Asia Pacific Australia/Oceania Japan
INDUSTRY KEYWORDS: Health Pharmaceutical Other Health