Company news: Valeant and RegeneronWeeks after bringing Medicis into the fold, Valeant is once again expanding its portfolio. The Canadian company announced Monday it scooped up rights to QLT's drug Visudyne for $112.5 million. The drug is used to treat leaky blood vessels associated with wet age-related macular degeneration. The company said in a statement that the upfront payment breaks down into $62.5 million for US rights and $50 million for non-US rights, which had respective sales of about $21 million and $14 million last year. The deal also includes an agreement to pay a $5 million contingency fee related to QLT's laser program in the US and a $15 contingency payment for the same program outside of the US.
The FDA has cleared Regeneron's Eylea for an additional use. The injection, which was initially approved for wet age-related macular degeneration, has now been given the all-clear for macular edema following central retinal vein occlusion. The approval was based on data from Phase III Copernicus and Galileo studies which had a goal of patients gaining the ability to see at least 15 letters of Best Corrected Visual Acuity after 24 weeks.