Mundipharma buys EU rights to Astellas' bendamustine

Privately-held Swiss drugmaker Mundipharma has acquired the exclusive development rights to the anticancer compound bendamustine from the German unit of Japanese drug major Astellas. Under the terms of the deal, the Swiss firm receives sole marketing rights for the drug in all parts of the European Union, including Germany, where it is sold as Ribomustin and where it netted Astellas 13.0 million euros ($16.4 million) last year as a treatment for non-Hodgkin's lymphoma, multiple myeloma and chronic lymphatic leukemia. Mundipharma will take over the development of the agent from April 2007 onwards and expects to launch it in other countries from 2008. In return, Astellas will receive an undisclosed upfront payment and regulatory milestones.