Millenium/Ortho Biotech to market Velcade in US
US firms Millennium Pharmacueticals and Ortho Biotech, part of the Johnson & Johnson group, say they have entered into a collaboration to jointly-promote the anticancer agent Velcade (bortezomib) in the USA as a treatment for relapsed multiple myeloma.
Under the terms of the deal, the companies will focus on marketing the agent to USA-based physicians in the first quarter of 2007. Ortho Biotech will dedicate a certain amount of its resources for promotion of the product, with Millennium agreeing to pay a percentage of the costs incurred, in addition to retaining responsibility for the manufacture and commercialization of the product in the USA. In addition, Ortho Biotech is entitled to receive a commission on the incremental sales that exceed pre-specified targets.
The firms added that their current agreement, which covers co-marketing of the product outside the USA, will remain unchanged.
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