Company news: Dendreon and CPPIB Credit Investments
Dendreon agreed to sell its royalty interest in Victrelis (boceprevir) for $125 million in cash, the company said. The firm did not disclose the exact royalty rate. The royalty interest was acquired by CPPIB Credit Investments, a wholly-owned subsidiary of CPP Investment Board, and the transaction is expected to close this month. ISI Group analyst Mark Schoenebaum estimated peak global Victrelis sales of $970.5 million in 2014. All-oral therapies, such as Gilead/Pharmassset's PSI-7977 could reach market in 2015 and are expected to impact currently marketed HCV drugs like Merck/Roche's Victrelis.