Akorn signs vaccine deal with Serum Institute of India

The four vaccine products are: measles, mumps and rubella vaccine (MMR), human diploid rabies vaccine, recombinant hepatitis B vaccine and oncology bladder cancer vaccine (BCG). Serum is presently manufacturing and intends to sell the vaccine products in the USA on an exclusive basis.

The memorandum of understanding describes the intended terms for a partnership between Akorn and Serum, which will be converted into definitive agreements within 60 days. Serum has agreed to manufacture the vaccines and grant Akorn exclusive marketing rights for the vaccines in the USA and its territories for a period of 10 years from the date of receipt of biologics license application (BLA) approval.

Akorn has agreed to pay Serum an exclusive marketing rights fee for each of the vaccine products for which it decides to conduct clinical trials and will fund such clinical trials necessary for securing BLA licenses for the vaccines. Akorn may decide not to fund the clinical trials for any vaccine if it finds that the clinical trials are cost prohibitive, but upon doing so, the exclusive right granted by Serum to Akorn for that vaccine will lapse immediately.