Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Basilea Announces Completion Of Toctino Transaction With Stiefel - Quick Facts

Basilea Pharmaceutica Ltd. (BPMUF.PK) said the transaction between Basilea Pharmaceutica International Ltd. and Stiefel, a GlaxoSmithKline(GSK: Quote, GSK.L) company, for Basilea's dermatology drug Toctino (alitretinoin) has been completed following antitrust approval and meeting other customary provisions.

Under the global agreement, Stiefel gains exclusive worldwide rights to Toctino as well as a license to know-how and assumes Basilea's existing distribution agreements for Toctino. Basilea receives an upfront payment of approximatelyCHF 225 million and will be eligible for a further milestone payment of up to GBP 50 million, related to a regulatory milestone of alitretinoin in the U.S.

In addition, Basilea will participate in future product sales in the U.S. through royalties starting three years after launch.

Click here to receive FREE breaking news email alerts for BASILEA PHARMACEUTIC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
With traders seemingly reluctant to make any significant moves, stocks continue to show a lack of direction in mid-day trading on Friday. Nonetheless, the markets are largely holding on to the bulk of their recent gains. On the heels of the violent clashes between local police and protestors in Ferguson, Missouri, Sen. Claire McCaskill, D-Mo., announced that she will hold a Senate hearing in September to examine the militarization of local police departments. UN human rights chief has called attention to "the international paralysis" on finding a solution to the conflict in Syria, which according to her empowered and emboldened the "killers, destroyers and torturers" in the country. UN High Commissioner for Human Rights Navi Pillay on Friday appealed to Governments to take serious measures to halt the fighting and deter the crimes, and above all "sto
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.