AMSTERDAM, Feb 28 (Reuters) - Organon, the pharmaceutical unit of Dutch chemical group Akzo Nobel (AKZO.AS: Quote, Profile , Research)(AKZOY.O: Quote, Profile , Research), will develop contraceptive sprays together with Australian drug delivery company Acrux (ACR.AX: Quote, Profile , Research), the firm said on Wednesday.
"Organon and Acrux will develop and commercialise contraceptives, delivered through the skin using Acrux's unique spray technology," Organon said in a statement.
An Organon spokeswoman said the idea was that the new products would be used daily and sprayed on the arm.
Under the agreement, Organon has licensed Acrux's technology for use with selected contraceptive compounds.
Acrux will develop formulations of such contraceptive compounds and if the project is completed successfully, Organon will undertake and fund all clinical trials, regulatory submissions, manufacturing and marketing, the statement said.
For each contraceptive compound that Organon selects to develop, Acrux may receive payments totalling between $12 million and $16 million, it said. Acrux will also earn royalties on worldwide sales of each product.
Global sales of hormonal contraceptive products reached about $6.7 billion in 2006, Organon said.
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