PharmaMar gets first $25 million as first milestone payment from Jazz Pharma
Spanish drugmaker PharmaMar’s (MC: PHM) shares closed down 7.5% at 54.90 euros on Friday, despite announcing the receipt of payment of $25 million (22 million euros) from its US partner, Jazz Pharmaceuticals (Nasdaq: JAZZ), after reaching the first commercial milestone, set out in its license agreement in relation to 2021 sales.
After a successful launch of Zepzelca (lurbinectedin) in the USA by Jazz Pharmaceuticals, lurbinectedin is established as the treatment of choice in second-line small cell lung cancer (SCLC). The sales achieved in 2021 have resulted in the first commercial milestone payment.
Lurbinectedin received accelerated approval for the second-line treatment of SCLC in June 2020 in the USA.
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