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Biem Pharmaceuticals to commercialize InSite's AzaSite in Turkey
ALAMEDA, Calif. — InSite Vision has signed a licensing and distribution agreement with Biem Pharmaceuticals regarding InSite's AzaSite ophthalmic solution for treating bacterial conjunctivitis, InSite announced in a press release.
Under the terms of the agreement, InSite will grant Biem exclusive rights to commercialize AzaSite (azithromycin 1%) in Turkey. In addition, an option to distribute AzaSite to Biem's export markets will be considered at a later date, the release said.
Also under the agreement, Biem will be responsible for securing regulatory approval of AzaSite for the Turkish market. In exchange, Biem will pay all costs associated with registering the product in Turkey and will provide a double-digit royalty to InSite on net sales of AzaSite pending regulatory approval.
InSite will be responsible for providing the manufactured product, the release said.