On May 8, 2006, Kos Life Sciences, Inc., a subsidiary of Kos Pharmaceuticals, Inc. and Jagotec AG, a subsidiary of SkyePharma Plc., announced the signing of an exclusive agreement for the marketing and distribution in the US of Flutiform™, SkyePharma's combination product for asthma and chronic obstructive pulmonary disease. The strategic partnership includes an upfront licensing payment of $25 million. If all regulatory and sales milestones are met, SkyePharma could receive up to an additional $145 million, plus royalties on sales.
Stuart Richards advised SkyPharma in this matter.