ImClone, Bristol-Myers, Merck KGaA to jointly develop, market Erbitux in Japan |
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Wed, 17 Oct 2007 10:18
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NEW YORK (Thomson Financial) - ImClone Systems Inc and Bristol-Myers Squibb Co have agreed with Merck KGaA on the co-development and co-commercialisation of cancer drug Erbitux (cetuximab) in Japan.Under the terms of the agreement, the three companies will jointly develop and market Erbitux in Japan for the treatment of epidermal growth factor receptor (EGFR)-expressing metastatic colorectal cancer (mCRC), as well as for the treatment of any other cancers the parties agree to pursue, according to a statement by the two US-based companies.The companies will share profits and losses realised as a result of the agreement, with Merck receiving 50 pct of earnings, and ImClone and Bristol-Myers each getting 25 pct.In addition to its percentage of the profits, ImClone will receive from Merck KGaA a royalty equal to 4.75 pct of total net sales in Japan.Merck Serono Japan will distribute the product and record the sales for the collaboration.maria.sheahan@thomson.commas/cm2COPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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ImClone, Bristol-Myers update label 