EU approval of Jetrea triggers a 45 million-euro milestone for ThromboGenics from Alcon

The European Commission has approved Swiss drug major Novartis’ (NOVN: VX) Alcon ophthalmic unit’s Jetrea (ocriplasmin) for the treatment of vitreomacular traction (VMT), including when associated with macular hole of diameter less than or equal to 400 microns.

The European Union approval triggers a 45 million euros ($58.4 million) milestone payment to originator Belgium-based ThromboGenics NV (Euronext Brussels: THR). The first sale of Jetrea in the EU by Alcon, which is expected to take place soon, will trigger a further 45 million-euro payment to ThromboGenics.

Alcon, a division of Novartis, acquired the rights to commercialize Jetrea outside the USA in March 2012, in a deal worth as much as 375 million euros to the Belgian firm. ThromboGenics retains the right to commercialize the drug in the USA, where it launched the drug earlier this year (The Pharma Letter January 15). In the USA it is approved for the treatment of patients with symptomatic vitreomacular adhesion (VMA) and is sold at a US price per injection is $3,950.