I. MODIFIED AGREEMENTS | |||
Biotech Co.* (Country; Symbol) | Pharma Co. (Country) | Change from original agreement | Terms/Details (Date) |
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Depomed Inc. (DEPO) |
Biovail Corp. (Canada) |
Amended May 2002 deal to include a second dosage formulation of Glumetza (extended-release metformin) |
The deal was concurrent with the filing of new drug applications for both the 500-mg and 1,000-mg dosages; Biovail would pay a $25M milestone and royalties to Depomed upon approval of the 500-mg dose, and royalties in the U.S. and Canada on the other dose (4/28) |
Isis Pharmaceuticals Inc. (ISIS) |
Eli Lilly and Co. |
Extended June 2002 alliance in oncology to explore new cancer targets using RNA-directed technologies |
The companies had been working on discovering antisense drugs in inflammatory and metabolic diseases before they began work in cancer; terms were not disclosed (5/6) |
Titan Pharmaceuticals Inc. (AMEX:TTP) |
Vanda Pharmaceuticals Inc. |
Vanda acquired worldwide rights to Titan's iloperidone, an antipsychotic agent in Phase III |
Vanda got the rights from Novartis Pharma AG, which had licensed them from Titan; all terms of the deal remain the same (6/9) |
II. TERMINATED AGREEMENTS | |||
Acambis plc (UK; ACAM) |
Baxter Healthcare Corp. |
Companies terminated December 2000 deal under which Acambis was to manufacture components of bacterial vaccines for Baxter |
Baxter will pay Acambis $19M through January 2006 to end the deal, after halting certain bacterial vaccine projects (5/19) |
Basilea Pharmaceutica AG (Switzerland; SWX:BSLN) |
F. Hoffmann-La Roche Ltd. (Switzerland) |
Roche did not exercise its opt-in rights for BAL5788, a Phase II antibiotic compound |
Basilea gained full rights to the compound after its parent company's decision, and plans to move into Phase III in 2H:04 (5/25) |
Biomira Inc. (Canada; BIOM) |
Merck KGaA (Germany) |
Merck returned rights to the Theratope cancer vaccine because more trials would be needed |
The decision does not impact their deal on BLP25 Liposome Vaccine, which they entered at the same time as the Theratope deal in 2001; terms were not disclosed (6/7) |
Depomed Inc. (DEPO) |
Elan Corp. plc (Ireland) |
Depomed regained all rights to their work on extended-release formulations of gabapentin, baclofen and losartan |
Depomed acquired Elan's 19.9% stake in Depomed Development Ltd., a subsidiary developing the products, for $50,000 (6/7) |
Isis Pharmaceuticals Inc. (ISIS) |
Elan Corp. plc (Ireland) |
Isis acquired Elan's minority interest in their Orasense and HepaSense joint ventures |
Elan already had stopped participating in the work; the deal will end any royalty payments to Elan and reduce dividend expenses for Isis (6/9) |
Karo Bio AB (Sweden; SSE:KARO) in 1997 |
Bristol-Myers Squibb Co. |
Companies ended alliance focused on targeting thyroid hormone receptors that began |
Karo gets all rights back, and said it will focus on developing second-generation compounds in the metabolic area (4/30) |
MedImmune Inc. (MEDI) |
Wyeth |
Companies dissolved their collaboration on the nasal flu vaccine FluMist and a second-generation liquid formulation, CAIV- T |
Wyeth gets $25M up front and up to $10M this year, as well as milestones and royalties; MedImmune will acquire Wyeth's distribution facility in Louisville, Ky., and assume worldwide rights and responsibilities (4/26) |
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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; SSE = Stockholm Stock Exchange; SWX = Swiss Stock Exchange. | |||
