PHARMACEUTICALS
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Spectrum Pharmaceuticals completes transaction with Allergan
The Irvine-based pharmaceuticals company is gaining $41.5 million from Allergan, also in Irvine.
By Kristen SchottPublished: November 07, 2008 03:40 PM
An almost $42 million deal struck between Spectrum Pharmaceuticals and Allergan, both in Irvine, is being finalized. Through the transaction, Spectrum retains rights to apaziquone, a bladder cancer treatment, in Asia, including Japan, China and India. But Allergan will hold rights to it in the rest of the world, including Canada and Europe.
Allergan also holds the rights in the U.S., but the two companies will co-promote the product and share its profits and expenses. Allergan will also pay Spectrum royalties on all its apaziquone sales outside the U.S.
Spectrum will continue to conduct clinical trials with the bladder cancer treatment, and Allergan will fund 65 percent of the costs starting in January.
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An almost $42 million deal struck between Spectrum Pharmaceuticals and Allergan, both in Irvine, is being finalized. Through the transaction, Spectrum retains rights to apaziquone, a bladder cancer treatment, in Asia, including Japan, China and India. But Allergan will hold rights to it in the rest of the world, including Canada and Europe. Allergan also holds the rights in the U.S., but the two companies will co-promote the product and share its profits and expenses. Allergan will also pay Spectrum royalties on all its apaziquone sales outside the U.S. Spectrum will continue to conduct clinical trials with the bladder cancer treatment, and Allergan will fund 65 percent of the costs starting in January. |
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