Japan Tobacco licenses novel HIV integrase inhibitor to Gilead Sciences
Gilead Sciences of the USA has licensed the commercialization and development rights to a novel HIV integrase inhibitor JTK-303 from the pharmaceutical division of Japan Tobacco.
Under the terms of the deal, Japan Tobacco will retain the domestic rights to the compound and will receive an upfront fee from Gilead amounting to $15.0 million, with milestone payments of up to $90.0 million. The firm will also pay royalties based on the projected sales of the drug in each of its markets.
The accord is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and will see Gilead modify the R&D provision in its 2005 financial guidance. The new figure is expected to be in the range of $250.0-$270.0 million, up from the previously issued amount of $240.0-$260.0.
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