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Article: CV Therapeutics Regains Full Ranexa Rights From Innovex.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 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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Washington Editor
Promising Phase III data plus a respectable bank account prompted CV Therapeutics Inc. to renegotiate with partner Innovex Inc. for a return of all rights associated with the chronic angina candidate Ranexa.
In exchange for commercialization rights, including the opportunity to hire and train a sales force, CV Therapeutics has agreed to issue Innovex, a subsidiary of Research Triangle Park, N.C.-based Quintiles Transnational Corp., warrants for 200,000 shares at a price to be disclosed today. On Friday, CV Therapeutics' stock (NASDAQ:CVTX) closed at $35.37, up $2.32.
The companies had signed the original marketing and sales ...