AEterna Zentaris sells Cetrotide royalties to Cowen Healthcare for up to $55M
Canadian drugmaker AEterna Zentaris has signed a definitive deal to sell to Cowen Healthcare Royalty Partners its rights to royalties on future sales of in vitro fertilization drug Cetrotide (cetrorelix) covered by its license agreement with Merck Serono, the drugs unit of Germany's Merck KGaA. That deal was signed in 2000 and granted Merck exclusive rights to market, distribute and sell Cetrotide worldwide, with the exception of Japan. On closing, AEterna will receive $52.5 million from CHRP. Dependent on 2010 net sales reaching a specified level, the Quebec-based firm could also receive an additional payment of $2.5 million.
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