logo
Share SHARE
FONT-SIZE Plus   Neg

Ipsen Renegotiates 2010 Strategic Partnership Agreement With Inspiration

Ipsen (IPSEF.PK) announced the renegotiation of its 2010 strategic partnership agreement with Inspiration Biopharmaceuticals, Inc. for the development and commercialization of Inspiration's recombinant product portfolio - OBI-1, a recombinant porcine factor VIII (rpFVIII) being developed for treating patients with acquired hemophilia A and congenital hemophilia A with inhibitors, and IB1001, a recombinant factor IX (rFIX) for the treatment and prevention of bleeding in patients with hemophilia B.

As per the new agreement and in its territories, Ipsen recovers commercial rights to OBI-1. Also, Ipsen is granted commercial rights for IB1001. As a result, Ipsen will record sales of OBI-1 and IB1001 in its drug sales line. Ipsen will further pay Inspiration a mid-teen royalty on OBI-1 sales and a higher double digit royalty on IB1001's sales.

In addition, under the new terms, Ipsen has agreed to invest up to $20 million in Inspiration.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
Follow RTT