Par Pharmaceutical Companies Inc. (PRX) on Tuesday said it has entered into an exclusive licensing agreement with Immtech Pharmaceuticals Inc. (IMM) to commercialize Immtech's lead oral drug, pafuramidine maleate, in the United States for the treatment of pneumocystis pneumonia or PCP in AIDS patients.Under the deal, Immtech received an initial payment of $3 million from Par. Immtech will receive an additional $29 million when pafuramidine advances through ongoing Phase III clinical trials and U.S. regulatory review and approval. Immtech will also receive royalties on sales and may receive up to $115 million in additional payments based on sales milestones. Immtech and Par may also team up to develop pafuramidine as a preventative therapy for patients at risk of developing PCP, including people living with HIV, cancer and other immunosuppressive conditions.The development of pafuramidine for the treatment of PCP was sponsored partly by a National Cooperative Drug Discovery Groups grant from the National Institutes of Health, U.S. Department of Health and Human Services, to the University of North Carolina at Chapel Hill. PRX is currently trading at $28.82, up 9 cents. IMM is currently trading at $7.20, up 31 cents or 4.50%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.