PharmaMar and Jazz Pharma lurbinectedin deal now effective
Spanish drugmaker PharmaMar (MC: PHM) shares were up 4.9% at 3.97 euros by early afternoon today following the announcement that its licensing deal with Ireland-incorporated Jazz Pharmaceuticals (Nasdaq: JAZZ) for exclusive license agreement for lurbinectedin in the USA was now effective following the expiry of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended "HSR."
As previously announced in December 19, PharmaMar and Jazz Pharmaceuticals signed an exclusive license agreement for US rights to lurbinectedin, trade name Zepsyre, the effectiveness of which was subject to the expiration or early termination of the applicable HSR waiting period.
Upfront $200 million payment now due
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