Schwarz sells back hormone rights
Schwarz Pharma of Germany and the USA's Genentech have signed anagreement whereby the latter will reacquire the rights from a 1999 development and distribution agreement with Schwarz for two of its human growth hormone products.
Under the terms of the deal, Genentech will have exclusive development and marketing rights in Europe and certain other countries outside the USA, Canada, China and Japan for Nutropin AQ and Nutropin Depot (both somatropin, rDNA origin). Financial details of the agreement were not disclosed. Joseph McCracken, vice president of business and commercial development at Genentech, said that his firm has had a good relationship with Schwarz for the past two years, but it now committed to seeking a new overseas partner for the treatments.
Product do not fit Schwarz business plan
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