Novartis completes purchase of rights to GSK drug for up to $1bn
pharmafile | December 21, 2015 | News story | Manufacturing and Production, Research and Development, Sales and Marketing |Â Â Â
Novartis has completed the acquisition of all outstanding rights to Arzerra from GSK for up to $1.034 billion.
The deal, first announced in August, gives the Swiss company the rights to the multiple sclerosis drug in auto-immune indications, following regulatory approval. It had previously purchased the rights to Arzerra (ofatumumab) in oncology indications.
It is structured as a series of milestone payments, comprised of an initial $300 million; $200 million payable at the start of a Phase III study in relapsing remitting multiple sclerosis by Novartis; and further contingent payments of up to $534 million payable on the achievement of certain other development milestones.
Novartis Pharma will also pay royalties of up to 12% to GSK on any future net sales of Arzerra in auto-immune indications.
Joel Levy






