Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Theravance, Clinigen Ink Commercialization Agreement In EU For VIBATIV

RELATED NEWS
Trade THRX now with 

Clinigen Group plc (CLIN.L) and Theravance Inc. (THRX: Quote) have reached an exclusive commercialization agreement in the European Union or EU and certain other countries in Europe for VIBATIV to treat nosocomial pneumonia, including ventilator-associated pneumonia, known or suspected to be caused by methicillin resistant Staphylococcus aureus or MRSA when other alternatives are not suitable.

VIBATIV is a bactericidal, once-daily injectable lipoglycopeptide antibacterial agent with a dual mechanism of action against Gram-positive bacteria, including resistant pathogens such as MRSA.

According to the deal, Theravance has granted Clinigen exclusive commercialization rights to VIBATIV in the EU and some other European countries, including Switzerland and Norway. Theravance, in turn, would receive a $5 million upfront payment from Clinigen and is entitled to receive tiered royalties on net sales of VIBATIV, ranging from 20% to 30%. The agreement has a term of at least 15 years, with an option to extend exercisable by Clinigen.

Click here to receive FREE breaking news email alerts for THERAVANCE, INC. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Looking to increase pressure on Congress, the White House released a report on Tuesday warning of the economic costs of delaying action to address climate change. With the August recess looming, House Republican leaders are hopeful they can pass legislation to address the crisis along the U.S.-Mexico border before the end of the week. The House is expected to vote on a bill providing $659 million in funding for the border crisis, well below the $3.7 billion requested by the Obama administration. After moving mostly higher in early trading on Tuesday, stocks have given back ground over the course of the trading session. A negative reaction to news of new European sanctions against Russia contributed to the pullback by the markets.
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.