I. MODIFIED AGREEMENTS | |||
Biotech Co.* |
Pharma Co. |
Change from original |
Terms/Details (Date) |
| | |||
Alliance |
LEO Pharma A/S (Denmark) |
LEO gained extra time to decide if it will license rights to Oxygent in Europe and Canada |
The evaluation period was extended until six days after Alliance submits to LEO results of a proof-of-concept study in surgery patients (3/2) |
BioTie |
Sanofi-Aventis Group (France) |
They will negotiate an extension to an option deal for evaluation of BioTie's bioheparin product |
The one-year deal was set to expire when they decided to negotiate an extension; terms were not disclosed (3/31) |
ComGenex |
Bayer Healthcare AG (Germany) |
The companies extended their exclusive chemistry collaboration for a seventh year |
ComGenex will continue to provide chemistry services to support drug discovery at Bayer; terms were not disclosed (3/1) |
Cubist |
Eli Lilly and Co. |
Cubist is purchasing a 2% reduction in royalties payable to Lilly on sales of Cubicin |
Cubist paid Lilly about 1.88M shares (worth about $20M); Cubicin had acquired rights to the product in 1997 (3/3) |
Evotec |
F. Hoffmann-La Roche Ltd. (Switzerland) |
They extended chemistry agreement signed in May 2004 for another year |
Evotec is supporting medicinal chemistry programs at Roche under undisclosed terms (4/13) |
Gen-Probe |
Bayer HealthCare LLC |
Tentative arbitration ruling said Gen-Probe is entitled to coexclusive rights to distribute qualitative TMA assays to detect the hepatitis C virus and HIV-1 |
Bayer previously held all rights; the arbitrator also determined the collaboration should be terminated, which would give Gen-Probe the right to develop and market certain viral assays (4/5) |
Halozyme |
Baxter Healthcare Corp. |
They expanded relationship by signing a development and supply agreement for Halozyme's Enhanze SC |
The product, a recombinant human hyalur- onidase enzyme, was the subject of an August 2004 partership for selling the product in the U.S. (3/30) |
Ligand |
Eli Lilly and Co. |
Ligand exercised its final option to buy down a further portion of royalties due Lilly on U.S. sales of Ontak |
Ligand will pay Lilly $13M in exchange for elimination of royalties due on sales in the U.S. in 2006, and a reduced, reverse-tiered royalty scale on sales of the cancer drug thereafter (4/7) |
Oscient |
LG Life Sciences Ltd. (South Korea) |
Amended agreement includes a reduction of future royalties payable to LG for Factive sales at certain levels |
Oscient will make a $2M payment to LG; the modified deal also calls for an $8M increase in milestone payments to LG at certain sales thresholds (4/6) |
Peakdale |
GlaxoSmithKline plc (UK) |
Peakdale will provide chemistry services to GSK through 2005 under an extension of an existing agreement |
Peakdale chemists have worked with GSK since 2002; terms of the deal were not disclosed (4/240 |
SkyePharma |
GlaxoSmithKline plc (UK) |
They amended their deal concerning royalties on Paxil CR |
SkyePharma gets a one-time payment of $10M, and an increase in its royalty rate from 3% to 4%; GSK has been unable to supply Paxil CR in the U.S. since March 4, 2005, due to manufacturing issues (4/28) |
Vicuron |
Pfizer Inc. |
March 1999 collaboration to develop next- eneration oxazolidinones was extended for another year. |
The goal is to develop oral antibiotics; terms of the extension were not disclosed (3/30) |
II. TERMINATED AGREEMENTS | |||
Cellegy |
PDI Inc. |
Settlement of legal disputes over Cellegy's Fortigel (testosterone gel) returned all rights to Cellegy |
Cellegy paid PDI $2M, issued a promissory note payable in 18 months, and issued to PDI a $3.5M convertible debenture due in three years (4/11) |
Dynavax |
UCB Farchim SA (Switzerland) |
They ended their collaboration on seasonal allergy products that began in February 2004 |
UCB will return all rights to the program to Dynavax, which plans to complete an ongoing Phase II/III trial of its AIC immunotherapy for ragweed allergy (3/18) |
Flamel |
Biovail Laboratories Inc. (Canada) |
Flamel terminated the license deal covering its long-acting acyclovir formulation, Genvir |
Biovail did not start trials in the time period called for under their February 2003 deal; Flamel intends to find another partner (3/3) |
Medivir AB |
Boehringer Ingelheim GmbH (Germany) |
BI ended an agreement on the HIV product MIV-310 (alovudine) |
The move followed a Phase II trial that did not meet targeted efficacy levels; Medivir is not planning further development (3/15) |
Phytopharm |
Yamanouchi Pharmaceutical Co. Ltd. (Japan) |
Yamanouchi terminated deal covering Phytopharm's Cogane, a product being developed for Alzheimer's disease |
Yamanouchi's license covered Japan and some other Asian countries (3/29) |
Notes: | |||
# The information in the chart does not cover agreements between biotech companies or agricultural agreements. | |||
* Private companies are indicated with an asterisk. | |||
Unless otherwise noted, stock symbols listed are on the Nasdaq market. | |||
AMEX = American Stock Exchange; FSE = Frankfurt Stock Exchange; HEX = Helsinki Stock Exchange; LSE = London Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; SSE = Stockholm Stock Exchange. | |||
