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Vertex set to sell milestone rights on hepatitis drug
Source: Agencies |
July 11, 2009, Saturday
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VERTEX Pharmaceuticals Inc said yesterday it planned to sell rights to future milestone payments tied to progress in Europe for its high-profile experimental hepatitis C drug.
The payments would come from Johnson & Johnson, which licensed European rights to the drug, telaprevir, from Vertex three years ago. Vertex retains rights to the drug in North America.
The milestones anticipated for telaprevir in Europe include US$100 million related to regulatory filing and approval for telaprevir and US$150 million related to its launch.
Telaprevir is being observed in three studies with more than 2,200 patients in the United States and Europe.
The payments would come from Johnson & Johnson, which licensed European rights to the drug, telaprevir, from Vertex three years ago. Vertex retains rights to the drug in North America.
The milestones anticipated for telaprevir in Europe include US$100 million related to regulatory filing and approval for telaprevir and US$150 million related to its launch.
Telaprevir is being observed in three studies with more than 2,200 patients in the United States and Europe.
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