Schering-Plough, Corvas Alliance

Schering-Plough and Corvas International have announced a strategic alliance to develop and commercialize oral antithrombotic drugs for the prevention and treatment of chronic cardiovascular disorders, such as deep vein thrombosis, pulmonary embolism and unstable angina. The initial collaboration covers the development of thrombin inhibitors. In addition, S-P has acquired an option to expand the program to include Factor Xa inhibitors.

The agreement calls for S-P to make equity, license, research support and milestone payments to Corvas totalling $80 million, providing certain targets are achieved.