Drug Royalty buys 25% of Peg-Intron royalties
Canadian privately-held investment company Drug Royalty has purchased 25% of US drugmaker Enzon Pharmaceuticals' worldwide royalty interest in Peg-Intron for $92.5 million. The drug, which is an advanced version of US drug major Schering-Plough's alpha interferon product, Intron A, is cleared for the treatment of hepatitis C infection.
In addition to the upfront fee, the Canadian company has agreed to make a $15.0 million milestone payment in 2012 if certain royalty recognition levels are met. Further details of the deal were not provided.
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