logo
Share SHARE
FONT-SIZE Plus   Neg

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, 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT