Almirall S.A. and Kaken Pharmaceutical announced that the companies have entered into a license and distribution agreement in which Kaken Pharmaceutical grants Almirall the exclusive right for the development and commercialization of the topical formulation of efinaconazole in Europe. Under the agreement, Kaken Pharmaceutical receives an upfront cash payment and has the potential to receive milestone payments and royalties on the net sales of the product. Almirall plans to have a pre-submission meeting with regulatory authorities within the next year to prepare the approval of the product in Europe.