As per the agreement, Spectrum will have all rights related to marketing, sales, and patents, and access to existing inventory of ZEVALIN from Bayer.
The Merchant Banking Group of Burrill & Company acted as advisor to Spectrum Pharmaceuticals in this transaction.
Spectrum will utilize a combination of company resources and partnerships to support the product outside the US, the company said.
ZEVALIN is approved for the treatment of follicular B-cell non-Hodgkin’s lymphoma, including countries in Europe, Latin America and Asia.
Spectrum chairman and CEO Rajesh Shrotriya said that with the licensing of ex-US, worldwide rights to ZEVALIN, they will be able to leverage their existing clinical, regulatory and marketing investments.
"Our access to the worldwide market will help patients with follicular lymphoma who can benefit from ZEVALIN," Shrotriya added.