Lunbeck expands rights to Biotie drug
Danish drug firm Lundbeck has acquired the North American and Mexican rights for nalmefene from the USA's Somaxon Pharmaceuticals. Lundbeck now has worldwide rights for the drug, excluding Turkey and South Korea.
Related to this, the terms of Lundbeck's license agreement with originator, Biotie Therapies of Finland, have been amended. Biotie is now eligible for up to 84.0 million euros ($106.1 million) in upfront and milestone payments plus royalties on sales. Of this amount, Biotie has already received an execution fee of 12.0 million euros from Lundbeck in two installments in 2006 and 2007.
Lundbeck is currently conducting three Phase III trials with nalmefene for the treatment of alcohol dependence, aiming to enroll a total of 1,800 patients.
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