Company News: Lilly and Incyte

Share this article:
Eli Lilly forged a deal with Incyte, gaining rights to develop and globally commercialize Incyte's oral JAK1/JAK2 inhibitor, INCB28050, and certain follow-on compounds, for inflammatory and autoimmune diseases. INCB28050 is currently in Phase II trials for rheumatoid arthritis. Terms call for Incyte to receive a $90-million upfront payment and up to $665 million in potential milestones, plus royalties on future sales.
Teva entered an agreement to in-license Phase-III oncology drug OGX-011 from OncoGenex Pharmaceuticals as well as purchase shares in the biopharma firm. OGX-011, for use in enhancing chemotherapy, is scheduled to begin Phase III trials in 2010 and 2011 among patients with advanced prostate cancer and non-small cell lung cancer. Teva will provide OncoGenex with a $60-million initial cash payment, including a $10-million equity investment in OncoGenex common stock at a price of $37.38 per share, upfront payment of $20 million and prepayment of $30 million for OncoGenex's contribution to OGX-011 development costs. OncoGenex will be eligible to receive up to $370 million in milestone payments and tiered royalties on sales. Teva is responsible for all commercialization and development expenses, and OncoGenex retains an option to co-promote OGX-011 in the US and Canada.

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Channel

 

Did you miss January's Top 40 Healthcare Transformers issue? Read how these inventors, strategists, entrepreneurs and wonks are challenging, disrupting and otherwise transforming the healthcare business. And join us April 30 to honor them at the Transforming Healthcare Dinner. Click here.