J&J named as partner for Zeltia cancer drug
After weeks of speculation (Marketletters July 23 and August 6), it hasbeen confirmed that Johnson & Johnson has licensed rights to Zeltia of Spain's late-stage anticancer agent ET-743 (ectinascidin). Once approved, J&J will market the drug in the USA, Japan and the rest of the world, except Europe, where Zeltia's biotechnology division, Pharma Mar, will sell it.
Zeltia said that Pharma Mar will be paid an initial sum by J&J's Ortho Biotech Products division when the licence agreement comes into effect, and will receive funding to develop the product, as well as milestones and royalties. The group's president, Jose Maria Fernandez-Sousa, said that "we are very satisfied with both the structure as well as the economic terms of the contract."
$100 million deal?
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