Novartis sells rights to Proleukin in the USA to Prometheus; gets license for vaccine from IIG; and pleads guilty over Trileptal

Prometheus Laboratories, a US specialty pharmaceutical and diagnostic company, has entered an agreement with Swiss drug major Novartis to acquire exclusive rights to distribute, promote and sell Proleukin (aldesleukin) in the USA. The product is a recombinant human interleukin-2 for treatment in adults with metastatic melanoma and metastatic kidney cancer, which generated net sales of around $75 million in the USA in last year.

Under the terms of the deal, Novartis received an upfront fee and will be entitled to royalties on net sales of Proleukin in the USA. Novartis is also eligible to receive potential sales milestones. Prometheus will have the option to extend the initial six-year term on an annual basis for up to an additional six years. In addition, the companies will have an option to amend the agreement to include the rest of the world upon the completion of certain conditions.

"This represents a transformational event for Prometheus as we continue to build our oncology presence and execute on our integrated therapeutics and diagnostics business model," said Joseph Limber, president and chief executive of Prometheus. "We have established ourselves as a leader in the gastroenterology market by offering a complementary portfolio of pharmaceutical and diagnostic products promoted via Prometheus' highly trained sales force. Now, following the recent launch of our three ProOncDx microRNA-based diagnostic tests and the continued development of our emerging and proprietary diagnostics platform, we are well positioned to repeat this success in the oncology market," he added.