BRIEF—Karo agreement with Pfizer terminated

Swedish drugmaker Karo Pharma says that it has been informed by US pharma giant Pfizer about its decision to terminate the research collaboration and license agreement, which the two companies entered in December 2011.

Following the wind-down of this agreement, there will be no active collaboration agreements between the two companies.

This information follows Pfizer's decision to terminate a specific development project, PF-06763809, for chronic plaque psoriasis. As a result, Karo Pharma will not receive further development and sales milestones related to the project. In May 2018 Karo Pharma communicated theoretical milestones of up to $200 million.

The termination of this agreement has no impact on the running operations nor the business outlook.