Schering-Plough And Myriad Genetics To Develop Cancer Therapies

- Schering-Plough and Myriad Genetics have signed a collaborativeagreement for gene discovery and to develop therapies for a range of cancers, including prostate. S-P will receive worldwide rights to all pharmaceutical products arising from the deal, while Myriad retains exclusive rights to all diagnostic products and services, and will receive royalties on any pharmaceutical products which are developed by S-P, it says. The agreement is initially for three years, but may be extended for two additional one-year periods. Payments to Myriad could total $60 million, it adds.