SwedenSweden

Medivir sells rights for Xerese for EUR 31m

30.06.2011

Huddinge, Sweden - Medivir cashes in on Medivir. For EUR 31m the Swedish
specialty pharma company sold all North American remaining rights for
Xerese, a drug against cold sores (herpes labialis), to Swedish Meda. In
February 2010, Meda in-licensed exclusive North American rights to Xerese,
which is available in the US as a prescription medicine. Under that
agreement, Meda paid the collaboration partner Medivir AB mid-teens and
minimum royalties on net sales. Today, Meda has acquired all rights for
Xerese in the US, Canada and Mexico and the royalties have been reduced to
zero. This agreement will trigger a payment to AstraZeneca, the patent
originator, according to agreed terms. If Meda develops new products based
on Xerese, Medivir will receive mid-single digit royalties on net sales and
a milestone payment of EUR 6,9m on approval by the U.S. Food and Drug
Administration.
Ron Long, CEO of Medivir, said that he opted for the money now because
selling Xerese in North America "will take time and require considerable
marketing resources". Medivir doesn't want to wait that long. The fresh
money will be poured in R&D in the infectious disease area and to other
product in licensing opportunities to take advantage of the commercial
platform acquired through the acquisition of Biophausia, Long said.
Medivir's develops among others TMC435, a protease inhibitor, which
currently is in phase 2b clinical development for Hepatitis C.

SwedenSweden

17.11.2011

Exton/Helsingborg – A Swedish specialist for improving glucocorticoid replacement therapy has attracted transatlantic attention. DuoCort Pharma AB, based in Helsingborg, was bought by ViroPharma Incorporated, an US-based...

SwedenSweden

01.10.2011

Uppsala/Basel – Swedish life science initiative Uppsala BIO is set to team up with drugmaker Hoffman-La Roche AG. For the next three years, the cluster will become the ninth member – and the first from Europe – of the Swiss...

SwedenSweden

01.10.2011

Uppsala – Backed by strong clinical research, the development of Orexo AB’s drug candidate OX219 for treatment of opioid dependence is gathering momentum. A clinical Phase I study was carried out to decide the commercial...

SwedenSweden

20.08.2011

Petach Tikva/Lund – Active Biotech AB suffered a severe setback in the development of its oral multiple sclerosis drug laquinimod. Together with ally Teva (Israel), the Swedish drugmaker announced that the substance failed in...

SwedenSweden

08.08.2011

Lund - Researchers from Lund University may have found a viable alternative to animal testing. In an article in the open access journal BMC Genomics (August 2011) they demonstrated that the response of laboratory grown human...

SwedenSweden

04.08.2011

Uppsala - After good interim results Oasmia wastes no time and starts the approval process for its ovarian cancer drug Paclical. The interim analysis, based on data from approximately 400 patients, showed the expected efficacy of...

SwedenSweden

02.08.2011

Petach Tikva/Lund - Active Biotech's experimental multiple sclerosis drug laquinimod failed in a phase III-trial. This is a major setback for the Swedish drug maker and its ally Teva Pharmaceutical Industries from Israel. Both...

SwedenSweden

15.06.2011

Uppsala/Tokyo – Orexo AB’s cancer pain treatment Abstral has reached the Canadian drug market. The Swedish drugmaker confirmed yesterday that Paladin Labs Inc have launched marketing of the sublingual formulation of fentanyl in...

SwedenSweden

12.06.2011

Stockholm – Swedish investor Karolinska Development AB outperformed its own expectations in its Initial Public Offering on the Nasdaq OMX Stockholm. The company sold 15.2 million shares at SEK40 during the offering, raising a...

Displaying results 11 to 20 out of 182

< Previous 11-20 Next >

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/nc/news/messages-archive/archive-sweden/browse/1/article/medivir-sells-rights-for-xerese-for-eur-31m.html

Events

All Events

Stock list

All quotes

TOP

  • PHARMING (NL)0.48 EUR11.63%
  • MDX HEALTH (B)3.80 EUR10.79%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK8.53%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • NOVACYT (F)4.46 EUR-10.26%

TOP

  • WILEX (D)2.82 EUR231.8%
  • ADDEX (CH)3.80 CHF58.3%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK44.9%

FLOP

  • HYBRIGENICS (F)1.72 EUR-29.5%
  • PROSENSA (NL)9.67 USD-23.8%
  • VITA 34 (D)4.18 EUR-20.4%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)431.00 GBP676.6%
  • PAION (D)2.42 EUR255.9%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.6%
  • CYTOS (CH)0.27 CHF-92.0%
  • THROMBOGENICS (B)9.16 EUR-70.4%

No liability assumed, Date: 30.07.2014


Current issue

All issues

Product of the week

Products