India, Sept. 3 -- Milestone Pharmaceuticals (MIST) on Thursday announced that China's National Medical Products Administration has approved etripamil nasal spray for treating paroxysmal supraventricular tachycardia (PSVT) in adults. Etripamil is marketed in the U.S. as CARDAMYST.
The approval marks the first regulatory approval for etripamil outside the United States and triggers a $2 million milestone payment to Milestone. Everest Medicines holds an exclusive license to develop etripamil in Greater China, including mainland China, Hong Kong, Macau and Taiwan. Milestone is also eligible for up to $98 million in commercial and development milestones, along with tiered royalties of up to 18% on future Greater China sales.
The approval was s...