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news.Valeant Pharmaceuticals International and Three Rivers Pharmaceuticals have signed a definitive agreement for Valeant to divest the US and Canadian rights to the hepatitis C drug Infergen to Three Rivers.
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Valeant will receive from Three Rivers approximately $70.8 million in cash upon closing, and up to $20.5 million in two noncontingent payments over the following eighteen months. Under the terms of the agreement, Three Rivers will be assigned all US and Canadian rights to Infergen and will acquire the remaining Infergen inventory from Valeant. The transaction is expected to close during the first quarter of 2008.
Infergen, or consensus interferon, is a bio-optimized, selective and highly potent type 1 interferon alpha originally developed by Amgen and launched in the US in 1997. It is currently indicated as monotherapy for the treatment of adult patients suffering from chronic hepatitis C viral infections with compensated liver disease and is dosed three times per week.
Donald Kerrish, president and CEO of Three Rivers, said: “This acquisition further promotes Three Rivers’s continuous strategy to expand its product offerings through product acquisition and internal product development in highly specialized therapeutic disease categories like hepatitis C.”