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InSite enters into two licensing agreements for AzaSite

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ALAMEDA, Calif. — Pfizer has granted InSite Vision exclusive worldwide rights to the use of azithromycin for treating ocular infections, according to an InSite press release.

The agreement will enhance the marketability of InSite's AzaSite drug franchise, which contains azithromycin in a novel delivery system, InSite officials said in the release.

InSite has also granted North American rights to Inspire Pharmaceuticals to commercialize AzaSite in the U.S. and Canada. Inspire will pay $13 million to InSite upfront, $19 million upon approval by the U.S. Food and Drug Administration and royalty rates of 20% increasing to 25% after the first 2 years, according to a press release from InSite.