Juniper Pharmaceuticals Monetizes U.S. Crinone Royalty Stream with Allergan

Juniper Pharmaceuticals, a women's health therapeutics company, has entered into an agreement with its partner, Allergan to monetize future royalty payments due to Juniper for U.S. sales of Crinone® (progesterone gel). Under the agreement, Juniper will receive a one-time payment of $11 million from Allergan.

"The monetization of our U.S. Crinone royalty stream significantly strengthens our balance sheet and provides non-dilutive cash to support our near-term strategic and operational goals," said Alicia Secor, Juniper's President and Chief Executive Officer.

The company sold U.S. Crinone® rights to Allergan in July 2010; since then, Juniper has received from Allergan a 10% royalty on its U.S. Crinone® sales.  

Juniper will continue as the exclusive supplier of Crinone® for all markets outside the U.S. and receive revenue from sales to Merck KGaA, Darmstadt, Germany ("Merck KGaA").  Merck KGaA holds the marketing authorization for Crinone® in over 90 countries.

Approved in the U.S. in 1997, Crinone® is indicated for supplementation or replacement as part of an Assisted Reproductive Technology (ART) treatment for infertile women with progesterone deficiency.