Australia's Acrux falls on terminating licensing deal for anesthetic cream

Acrux

11/10/2021 04:30

** Shares of the pharmaceutical co  ACR.AX  fall as much as
7.7% to A$0.12, mark their biggest intraday pct loss since Sept.
29
    ** Co and Harris Pharmaceutical Inc terminated their license
agreement for co's generic version of EMLA (Eutectic Mixture of
Local Anesthetics) cream, which received FDA approval in July
 urn:newsml:reuters.com:*:nASX97zKq0
    ** In 2020, ACR had entered into an exclusive sales,
marketing and distribution agreement with Harris
    ** The EMLA cream works by temporarily numbing the skin to
prevent pain before procedures like inserting a needle
    ** Co says it is currently negotiating a licensing agreement
for the commercialisation of EMLA product with another
specialist generic co in the U.S.
    ** As at 0320 GMT, stock down 3.9% at A$0.125
    ** As of last close, stock had fallen 21.2% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))