PharmaMar inks deal worth up to $1 billion for lurbinectedin in the USA
Just a couple of days after filing for approval of the drug as a treatment small cell lung cancer (SCLC) with the US Food and Drug Administration, Spain’s PharmaMar (MC: PHM) has signed an important licensing deal for Zepsyre (lurbinectedin).
PharmaMar has entered into an exclusive licensing agreement with Ireland-incorporated Jazz Pharmaceuticals (Nasdaq: JAZZ) for lurbinectedin in the USA, with the news pushing the Spanish firm’s share higher on Thursday and a further 3% to 2.99 euros this morning. Jazz’s stock gained nearly 2.6% to $152,27 by close of trading on Thursday.
Under the terms of this agreement, PharmaMar will receive an upfront of $200 million with potential regulatory milestone payments of up to $250 million on the achievement of accelerated and/or full regulatory approval of lurbinectedin by FDA within certain timelines.
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