Texas Biotechnology Corp. has formed a strategic licensingagreement with Genentech Inc. for the anti-thromboliticcompound Argatroban licensed from Mitsubishi Kasei.
The drug had sales in Japan of $40 million in 1992. Terms ofthe agreement between Genentech (NYSE:GNE) and the privateHouston company were not disclosed.
Argatroban, a synthetic molecule derived from L-arginine, isready to begin Phase II studies. Genentech has right of firstdiscussion if the smaller company decides to take on amarketing partner.
In a separate announcement, Genentech said that the CanadianPatented Medicine Prices Review Board has accepted thecompany's settlement of a pricing dispute regarding itsActivase tissue plasminogen activator (t-PA). Genentechagreed to pay a settlement fee and will adjust the list price ofActivase in Canada to correspond to the U.S. price. TheCanadian price will be based on the U.S. list price multiplied bythe Bank of Canada's average exchange rate for theimmediately preceeding 12-month period.
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