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news.H Lundbeck and Myriad Genetics have announced that Lundbeck has acquired European commercialization rights to Myriad's Flurizan. Flurizan might have the potential to delay disability in patients suffering from Alzheimer's disease.
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Myriad and Lundbeck have entered into a European commercialization agreement under which Lundbeck will have rights to market and sell Flurizan in the EU and several associated non-EU countries and will manage the regulatory process. Lundbeck has agreed to pay Myriad an initial $100 million and will pay up to $250 million in connection with regulatory approvals.
Furthermore, Lundbeck has agreed to pay attractive commercialization milestones and will purchase bulk pharmaceutical material from Myriad. Lundbeck has also agreed to pay escalating royalties of 20 – 39% on sales less the amount paid for the bulk drug.
Peter Meldrum, president and CEO of Myriad, said: “The selection of Lundbeck as our European partner completes the first stage of our global commercialization strategy for Flurizan.”