Nuvo Research has agreed with Horizon Pharma to extend the term of their manufacturing agreement for the production of PENNSAID® 2% for the U.S. market to December 31, 2029, which extends the agreement by an additional seven years. The amended agreement also provides for tiered pricing based on volumes of product supplied.
"This amendment secures the long-term future of the core business of Nuvo Pharmaceuticals, the commercial healthcare company to be 100% owned by Nuvo shareholders upon completion of our previously announced reorganization of Nuvo into two separate, publicly traded companies," said John London, Nuvo's President and Co-CEO. "We intend to build upon that core business by out-licensing PENNSAID 2% internationally and by seeking to acquire complementary, accretive businesses or products."