To continue reading this article, sign up for FREE to
Membership is FREE
and provides you with
instant access
to email newsletters, digital publications, our full content catalogue & more...
Genzyme and Isis Announce Hart-Scott-Rodino Approval of Collaboration
Genzyme Corp. and Isis Pharmaceuticals, Inc. have announced that they have received clearance under the Hart-Scott-Rodino Antitrust Improvements Act for their collaboration, which was announced on January 7, 2008.
Based on this approval, Genzyme will pay Isis $150 million to purchase five million shares of Isis common stock for $30 per share.
Upon completion of final contracts, Genzyme will pay to Isis an additional up-front cash payment of $175 million for the exclusive licensing of mipomersen.
As part of the strategic alliance, Genzyme will develop and commercialize mipomersen, a breakthrough, potential blockbuster lipid-lowering treatment for high risk cardiovascular patients that utilizes Isis' antisense technology.
Isis will also be eligible to receive milestone and profit sharing payments for mipomersen, which is currently in phase 3 development. In addition, Genzyme will have preferred access to future drugs developed by Isis for CNS and certain rare diseases.
Add Technology Networks as a preferred Google source to see more of our trusted coverage.
