LONDON, UK / ACCESSWIRE / September 22, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Woodcliff Lake-based Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) ("Eagle"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=EGRX. The Company announced on September 20, 2017, that it has licensed SymBio Pharmaceuticals Ltd ("SymBio") the rights to develop, market, and sell its bendamustine hydrochloride ("bendamustine HCl") ready-to-dilute ("RTD") and rapid infusion ("RI") injection products in Japan. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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SymBio's responsibilities include securing regulatory approval of the RTD and RI injection products using the licensed technology in Japan along with a target for approval of a product in 2020.

Terms of the License

  • Eagle will receive an upfront milestone payment of $12.5 million.
  • The Company may be entitled to additional milestone payments upon approval and the achievement of cumulative sales thresholds.
  • Eagle is also likely to receive royalties on future net sales of the licensed bendamustine products.

SymBio launched TREAKISYM in Japan through its Commercialization Partner, Eisai Co. in January 2017

As per the news release, on January 31, 2017, SymBio launched TREAKISYM® Intravenous Infusion 25 mg in Japan through SymBio's commercialization partner, Eisai Co., Ltd. for the treatment of low-grade B-cell non-Hodgkin's lymphoma and mantle cell lymphoma, and chronic lymphocytic leukemia. TREAKISYM® Intravenous Infusion 25 mg was approved for manufacturing and marketing in Japan on September 28, 2016.

Due to the approval of a first-line treatment for NHL and MCL in December 2016, SymBio's 12-month sales ended June 30, 2017, in Japan for TREAKISYM were $52 million. The Company has estimated sales of TREAKISYM to grow to $90 million in 2018.

Eagle's First Step in Expanding its Differentiated Products Outside the US

Commenting on the agreement, Scott Tarriff, Chief Executive Officer of Eagle Pharma, said that this is an important example of the value of the Eagle portfolio to patients worldwide and a first step in expanding outside the US for its differentiated products. Scott added that the Company is looking forward to SymBio's future approval and successful commercialization of bendamustine HCI in Japan.

Agreement Enables SymBio to Maximize the Value of TREAKISYM

Fuminori Yoshida, President and Chief Executive Officer of SymBio, stated that in-licensing Eagle's ready-to-dilute and rapid infusion injection products will enable SymBio to extend the product life and continue to maximize the value of TREAKISYM over the product life while bringing significant benefits to patients and healthcare providers in Japan.

About Bendamustine Hydrochloride

Bendamustine HCl is a chemotherapy medication used in the treatment of chronic lymphocytic leukemia (CLL), multiple myeloma, and non-Hodgkin's lymphoma. It is given by injection into a vein. Bendamustine HCl was approved for medical use in the US in 2008.

TREAKISYM is a lyophilized powder formulation of bendamustine HCl. It is a cytocide anti-cancer drug, is now widely used in more than 50 countries

About Eagle Pharmaceuticals, Inc.

Founded in 2017, Eagle Pharmaceuticals is a specialty pharmaceutical company focused on developing injectable products, primarily in the areas of critical care, orphan diseases, and oncology. The Company develops proprietary enhancements to FDA-approved drugs utilizing the 505(b)(2) regulatory pathway.

About SymBio Pharmaceuticals Ltd

Established in 2005, SymBio Pharma is a Japan-based pharmaceutical company engaged in the development and marketing of drugs in the areas of oncology, hematology, and pain management. The Company is based in Tokyo, Japan.

Last Close Stock Review

On Thursday, September 21, 2017, the stock closed the trading session at $57.39, marginally up 0.79% from its previous closing price of $56.94. A total volume of 115.14 thousand shares have exchanged hands. Eagle Pharma's stock price advanced 5.15% in the last one month. The stock is trading at a PE ratio of 9.64 and currently, has a market cap of $855.11 million.

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