Novartis restructures deal with Idenix Pharmaceuticals

USA-based Idenix Pharmaceuticals (Nasdaq: IDIX) says that Swiss drug major Novartis (NOVN: VX) has restructured its commercialization collaboration with the firm, with Idenix regaining worldwide rights to its current and future development-stage drug candidates in any therapeutic area.

In exchange, Idenix has agreed to pay Novartis a royalty based on worldwide product sales of Idenix' future hepatitis C virus (HCV) drugs, unless they are used in combination with drugs from Novartis. The royalty percentage will vary based on the commercialized Idenix HCV drug

Furthermore, Novartis has a non-exclusive option to conduct clinical trials evaluating a combination of any of Idenix' and Novartis' HCV drug candidates, subject to the drug candidates meeting several criteria. Novartis' ability to initiate combination trials expires on the seven year anniversary of the execution of the termination and revised relationship agreement.