Auxilium Pharmaceuticals announced that it has entered into an agreement with GlaxoSmithKline to co-promote Testim 1% (testosterone gel) for the testosterone replacement therapy in adult males for conditions associated with a deficiency or absence of testosterone.
Under the terms of the agreement, GSK now has exclusive rights to co-promote the sale of Testim with Auxilium in the US until Sep 30, 2015. GSK will utilize its
established field sales force who already has relationships with current Testosterone Replacement Therapy prescribers, particularly primary care physicians in the US. The sales force will start promoting Testim to physicians early in the third quarter of 2012.
Financial terms: Auxilium and GSK have agreed on a baseline revenue forecast of the product through Sep 30, 2015. Auxilium has agreed to compensate GSK to the extent that Testim net sales exceed the forecast baseline.
Testim is a proprietary, clear, topical gel containing 1% testosterone. The product has been approved to be applied once-daily to the upper arms and shoulders to restore and maintain testosterone levels.
Testosterone is a big market with an estimate of $1.4B in sales in the US in a year according to IMS data.
Under the terms of the agreement, GSK now has exclusive rights to co-promote the sale of Testim with Auxilium in the US until Sep 30, 2015. GSK will utilize its
established field sales force who already has relationships with current Testosterone Replacement Therapy prescribers, particularly primary care physicians in the US. The sales force will start promoting Testim to physicians early in the third quarter of 2012.
Financial terms: Auxilium and GSK have agreed on a baseline revenue forecast of the product through Sep 30, 2015. Auxilium has agreed to compensate GSK to the extent that Testim net sales exceed the forecast baseline.
Testim is a proprietary, clear, topical gel containing 1% testosterone. The product has been approved to be applied once-daily to the upper arms and shoulders to restore and maintain testosterone levels.
Testosterone is a big market with an estimate of $1.4B in sales in the US in a year according to IMS data.
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