Richter announced today in a stock exchange statement, it has entered an agreement to develop and supply active pharmaceutical ingredient (API) for Repros Therapeutics’ proprietary product Proellex ™. Proellex ™ is a progesterone receptor modulator (PRM) drug, which is currently in a 150 patient Phase II clinical trial in the United States and Phase II trial in Europe.
Erik Bogsch, CEO of Gedeon Richter “the agreement is a perfect fit to the company’s strategy that focuses on supplying high quality steroid products”. He further noted that this agreement has no significant impact on Richter’s sales revenues in the short term.
We see the news as slightly positive, although as Repros’ drug is still in a Clinical II phase, we see potential cash flows to arise from the agreement only later.