Amgen buys back rights to three drugs from GSK
pharmafile | December 15, 2015 | News story | Research and Development, Sales and Marketing |Â Â Amgen, GSKÂ
Amgen has announced that it will reacquire the rights to three products in 48 countries from GSK, as it seeks to add depth to its oncology and bone health pipelines and expand its offering in key growth markets.
The deal for Prolia (denosumab), Xgeva (denosumab) and Vectibix (panitumumab) covers countries in Asia, South America, Europe, Australia and other regions, and includes several locations earmarked for growth by Amgen, including Brazil, China, Colombia, Hong Kong, Israel, Singapore, South Korea, Taiwan and Thailand.
Prolia is used to treat postmenopausal osteoporosis, while the related drug Xgeva is used to prevent bone fractures and other skeletal conditions in people with cancer tumours that have spread to the bone. Vectibix is indicated for advanced colorectal cancer.
GSK reported combined sales for the three products of about $111 million in 2014.
GSK signed a license agreement with Amgen granting it access to select regional rights to Prolia and Xgeva in 2009; the UK-based company acquired the rights to Vectibix a year later.
Under the terms of the new agreement, Amgen will make undisclosed milestone payments to GSK on signing and on the successful transition of the products back to Amgen. Amgen will book all product sales following this transition.
While GSK will continue to hold the license and sell and distribute the products for an interim transition period that will vary by country, Amgen plans to take back ownership in the majority of markets within a 12-month period.
“This unique agreement with GSK allows Amgen to regain rights to three important growth products, and to directly serve more patients in key expansion markets,” says Robert Bradway, chairman and chief executive officer of Amgen. “The agreement also allows Amgen to build additional commercial infrastructure in oncology and bone health, two strategically-important therapeutic areas for Amgen with emerging late-stage pipeline assets.”
Amgen said it would work closely with GSK to ensure the transition is a seamless one for patients a seamless transition for customers and patients.
Joel Levy
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