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Article: Millennium Sells Integrilin Rights In U.S. To Schering.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Millennium Pharmaceuticals Inc. restructured its collaboration for Integrilin, granting exclusive U.S. development and commercialization rights to Schering-Plough Corp. and trading its profit-sharing arrangement for a significant royalty and up to $85.5 million in payments.
The companies have co-promoted and shared in the cardiovascular drug's profits in the U.S. since 2002, when Millennium completed a merger with COR Therapeutics Inc. Schering-Plough began working with COR on Integrilin in 1998. (See BioWorld Today, Dec. 7, 2001.)
Terms call for Kenilworth, N.J.-based Schering-Plough to pay Millennium a $35.5 million up-front ...