Eagle Pharmaceuticals, a specialty pharmaceutical company in Woodcliff Lake, said Tuesday it entered into a license agreement with Jerusalem-based Teva Pharmaceuticals Industries Ltd. for a drug used to treat cancer. Financial terms were not disclosed.
Under the agreement, Eagle’s bendamustine hydrochloride (HCI) rapid infusion product would be used to treat chronic lymphocytic leukemia and indolent B-cell non-Hodgkin lymphoma. The product can be administered in 10 minutes, said Eagle.
Eagle is responsible for obtaining all regulatory approvals, conducting post-approval clinical studies when required and initially supplying the drug to Teva. Teva will be responsible for all U.S. commercial activities for the product including promotion and distribution.
Paul Rittman, vice president and general manager of Teva Oncology, said the company had its own bendamustine HCI product called Treanda. However, Eagle’s product has a “substantially shorter infusion time.”
Eagle said it submitted a New Drug Application to the Food and Drug Administration for the product. The product may be eligible for seven years of exclusivity if approved.
According to data on Eagle’s website, Bendamustine with a short infusion time has a $600 million market.
Eagle, which became a public company a year ago, is a specialty pharmaceutical company that develops and commercializes injectable products. The company markets Ryanodex, which is used to treat malignant hyperthermia.