Actavis announces partnership with Medicines360 for affordable intrauterine device (IUD). Actavis acquire US commercial rights for LNG20 IUD.

Medicines360 is a non-profit pharmaceutical company. On the other hand, Actavis Inc. is a leading specialty pharmaceutical company. The two globally leading companies announced historic partnership that will make the intrauterine device affordable in the US market. It will also reduce commercial price in US public sector clinics. As early as 2014, the LNG20 IUD could be launched in the US upon approval from the Food and Drug Administration.

Under the terms of the deal, Actavis acquires the right to market including sale and distribution of LNG20 in private sectors in US and Canada. The said agreement was valued roughly at US$50 million. Actavis will also pay Medicines360 US$125 million plus royalties upon reaching specified milestones.

In January 2013, Actavis Inc. acquired Belgium-based Uteron Pharma which developed levonogestrel IUD product. Medicines360 previously acquired commercial rights from Uteron for the IUD in the US and other countries.