"We recognize the importance of expanding Xiaflex's reach to new patients around the globe and the first commercial sale of Xiaflex in Japan is an important milestone for this effort," commented Thomas L Wegman, President of BioSpecifics.
"We are very happy that there is now a non-surgical treatment option available to patients suffering from the debilitating effects of Dupuytren's contracture in this territory." Under the terms of BioSpecifics' agreement with Endo, in addition to receiving a $1.0 million milestone payment related to the first commercial sale of Xiaflex in Japan, BioSpecifics will receive royalties on net sales, mark-up on cost of goods sold and sales-based milestone payments.
Dupuytren's contracture is caused by an abnormal accumulation of collagen in the palm of the hand characterized by the formation of nodules or lumps in the early stages. As the disease progresses, a cord is formed and the fingers may become progressively contracted. Once the Dupuytren's collagen cord can be felt, it is referred to as a ‘palpable cord'.