Milestone Pharmaceuticals announced that its etripamil nasal spray has been approved by China’s National Medical Products Administration (NMPA) for the treatment of paroxysmal supraventricular tachycardia (PSVT) in adults. This marks the first regulatory approval for the drug outside of the United States.
Key Details
- Financial Impact: The approval triggers a $2.0 million milestone payment to Milestone from its partner, Everest Medicines, which holds the commercialization rights in Greater China.
- Partnership Terms: Under the license agreement, Milestone is eligible for up to an additional $98.0 million in development and commercial milestones, plus tiered royalties of up to 18% on future sales in the region.
- Commercialization: Everest Medicines will lead the commercialization of etripamil nasal spray in Greater China, which includes Mainland China, Hong Kong, Macau, and Taiwan.