B-MS and Medivir to collaborate on HIV drug development

USA-based drugmaker Bristol-Myers Squibb and Swedish pharmaceuticals firm Medivir AB say they will collaborate on the development the latter's non-nuceloside reverse transcriptase inhibitor, MIV-170, as a treatment for HIV-1 infection in adults.

Under the terms of the deal, B-MS will pay an upfront fee of $7.5 million to license the product from Medivir. The Stockholm-headquartered firm is also likely to receive pre-specified development and regulatory payments totaling $97.0 million, as well as double-digit sales royalties on any successfully commercialized product.

In return, the US group will be responsible for development and commercialization of the product worldwide, excluding the Nordic region, where Medivir has retained marketing rights.