J&J in $535 million Velcade marketing deal with Millennium Pharmaceuticals
US health care major Johnson & Johnson has agreed a deal worth in excess of $535 million with biotechnology concern Millennium Pharmaceuticals, which gives the former all non-US commercialization rights to the latter's anticancer drug Velcade (bortezomib).
Under the terms of the deal, J&J subsidiary Ortho Biotech Products will pay Millennium $15 million upfront, sales milestones of up to $190 million and clinical and regulatory milestone payments of $330 million. Moreover, Boston-headquartered Millennium has negotiated an undisclosed, double-digit royalty stream on non-US sales of the drug, whilst retaining all commercialization rights and profits to Velcade in its domestic market.
Ortho to share development costs
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