Singapore, Feb. 23 -- Taiwan-based Formosa Pharmaceuticals has entered into an exclusive licensing agreementwith Arrotex Pharmaceuticals, for exclusive rights to the commercialisation of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), an innovative topical eyedrop for the treatment of inflammation and pain following ocular surgery inAustraliaandNew Zealand.

Australia-based Arrotexcurrently fulfills 50% of the country's total volume and is a leader in ophthalmology.The licensing arrangement includes upfront, regulatorymilestones, sales milestones, and royalty considerations throughout the terms of the agreement.

APP13007's active ingredient is the superpotent corticosteroid, clobetasol propionate, and is derived from Formo...