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: 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
US Steel Corp. (X) Tuesday said it will "adjust operations" and temporarily idle a part of its Minntac plant in Mt. Iron, Minnesota, effective June 1. According to reports, the move would see about 700 employees laid off. The company said the decision was due to its current inventory levels and ongoing... Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world.
comments powered by Disqus
Follow RTT