Valeant Pharmaceuticals, Zogenix sales and marketing update

Valeant granted Zogenix co-promotion rights in the U.S. to migraine drug Migranal dihydroergotamine. Beginning in late July, Zogenix's sales force will start promoting Migranal to its customer base of prescribers, which is primarily composed of neurologists, headache specialists and related nurse practitioners and physician assistants. Valeant will record all product revenues and Zogenix will receive a quarterly service fee calculated as an undisclosed percentage of net sales over a baseline amount. The co-promotion deal ends Dec. 31, 2015 but can be extended by mutual agreement. Zogenix said it did not pay an upfront fee for the rights, but declined to disclose details. Valeant could not be reached. ...