It was reported yesterday that Mayne Pharma, a fast growing company, focused on applying its drug delivery expertise to commercialise branded and generic pharmaceuticals, has acquired the US and Australian rights to halobetasol foam 0.05%.

The deal is valued for a sum of up to USD32m, which includes contingent payments of up to USD17m based on commercial milestones and other factors.

In addition, there is an ongoing earn-out payment based as a percentage of net sales over a 10-year period.

According to the terms of the asset purchase, license and commercialisation agreement, Mayne Pharma has also acquired the approved US regulatory filing, medical and technical data, and a portfolio of pending US patent applications.This product received US Food and Drug Administration approval in May 2018 and Mayne Pharma is planning for the commercial launch of this product in early 2019. The product received three years of marketing exclusivity and has four pending patent applications with the US Patent and Trademark Office.