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news.Astellas Pharma has exercised its right to terminate the global license, development and commercialization agreement with Theravance for Vibativ (telavancin) for injection.
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Vibativ (telavancin) for injection is Theravance’s bactericidal, once-daily lipoglycopeptide antibiotic.
The rights granted to Astellas ceased upon termination of the agreement and Astellas has stopped promotional sales efforts.
As per the terms of the deal, there are no termination payments required by either party and Astellas is entitled to a ten-year, 2% royalty on net sales of Vibativ.
Astellas will transfer inventory to Theravance, manage certain clinical and regulatory activities and respond to medical inquiries with respect to Vibativ until 31 March.