About Careers Internship MedBlog Contact us
Medindia LOGIN REGISTER
Advertisement

Cancer Drug Deal Clinched with $1.3 Billion by Japan, US Firms

by Thilaka Ravi on February 17, 2011 at 9:28 PM
Font : A-A+

 Cancer Drug Deal Clinched with $1.3 Billion by Japan, US Firms

Japan's Astellas Pharma has clinched a deal to pay around $1.3 billion to US drug developer Aveo Pharmaceuticals for jointly developing an experimental cancer treatment, the companies said in a statement.

Japan's second-largest drug maker by sales and Aveo, which went public about a year ago, said the agreement was to develop and market tivozanib, a potential cancer treatment outside Asia.

Advertisement

Under the accord, Astellas will pay Aveo an initial $125 million up front, consisting of a $75 million licence fee and $50 million in research and development funding, the statement released Wednesday said.

Aveo said it was also eligible to receive approximately $1.3 billion depending on the drug's success in terms of clinical and regulatory achievement as well as meeting sales targets.
Advertisement

Aveo will lead commercialisation of tivozanib in North America, while Astellas will take the lead in the European Union. They plan to share equally all North American and EU development and commercialisation costs and profits.

Tivozanib is currently in a late-stage trial for treating kidney cancer, as well as studies for other types of cancer. Aveo expects to release top-line data on the kidney-cancer study in mid-2011.

Astellas last year bought US firm OSI Pharmaceuticals for $4 billion, as Japanese makers seek to enter new markets to offset the impact of the increasing use of generic drugs in the domestic market.

Astellas shares closed 1.53 percent higher in Tokyo trade Thursday.

Source: AFP
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
What's New on Medindia
H1N1 Influenza Prevention in Children: What Parents Need to Know
Dietary Factors Responsible for Dihydrotestosterone (DHT) Production and Hair Loss
Test Your Knowledge About Chromosomes?
View all
Recommended Reading
News Archive
Date
Category
Advertisement
News Category

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Drug Toxicity Cancer and Homeopathy Signature Drug Toxicity Cancer Facts Cancer Tattoos A Body Art Oncology Drug Delivery Systems Common Lifestyle Habits that Cause Diseases Health Benefits of Dandelion Plant Immune Checkpoint Inhibitors for Cancer Treatment 

Most Popular on Medindia

Blood Donation - Recipients Color Blindness Calculator Drug Interaction Checker Calculate Ideal Weight for Infants Selfie Addiction Calculator Sinopril (2mg) (Lacidipine) Drug - Food Interactions Diaphragmatic Hernia Sanatogen A-Z Drug Brands in India
This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use
×

Cancer Drug Deal Clinched with $1.3 Billion by Japan, US Firms Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests