Servier gains rights to Spectrum drugs in Canada

13 January 2016

US biotech firm Spectrum Pharmaceuticals (NasdaqGS: SPPI) has entered into a strategic partnership with the Canadian subsidiary of French privately-held drugmaker Servier for the marketing of several of its drug products.

As part of this partnership, Spectrum will grant the exclusive rights to develop and commercialize in Canada a franchise of four Spectrum hemato-oncology drugs: Zevalin (ibritumomab tiuxetan), Folotyn (pralatrexate), Beleodaq (belinostat) and Marqibo (vinCRIStine sulfate Liposome). Spectrum will receive $6 million in upfront payments, plus development milestone payments and royalties based on net product sales.

“We are pleased to announce this strategic partnership with Servier, a leading company in Canada,” said Rajesh Shrotriya, chairman and chief executive of Spectrum Pharmaceuticals.

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