Valeant Pharma buys US rights to Eisai's Targretin for $65 million upfront

Canada’s Valeant Pharmaceuticals International (TSX: VRX) says that it has acquired US rights for Targretin (bexarotene) capsules and Targretin gel 1% from Japanese drug major Eisai (TYO: 4523) for $65 million upfront, plus potential contingent payments based on certain milestones.

As part of the transaction, which takes effect immediately, Eisai has transferred the New Drug Application for Targretin to Valeant, which will assume responsibilities for all regulatory obligations associated with the product in the USA. Eisai will retain its rights to Targretin outside of the USA and continue to meet the needs of its distribution partners outside of the United States.

Targretin capsules are used to treat the skin problems arising from cutaneous T-cell lymphoma, or CTCL, when at least one systemic therapy has not worked.