PharmaMar gets $10 million milestone from Janssen for Yondelis
Spanish drugmaker PharmaMar Group (MSE: PHM) today said it has received a payment of $10 million from Janssen Products, a Johnson & Johnson (NYSE: JNJ) company, after reaching a commercial milestone for Yondelis (trabectedin) in the as defined in the licensing agreement, sending its shares up 2.4% to 75.95 euros.
In August 2019, PharmaMar entered into a new licensing agreement with Johnson & Johnson, which replaced a 2001 licensing agreement, under which the us healthcare giant retained the right to sell and distribute, on an exclusive basis, trabectedin in the USA.
PharmaMar noted that, as of today, trabectedin is approved in more than 70 countries for the treatment of soft tissue sarcoma and in some of these countries for ovarian cancer as well.
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