NVS acquires non-oncology—(i.e. MS)—rights to GSK’s Arzerra (ofatumumab) for $500M in cash plus future considerations: https://www.novartis.com/news/media-releases/novartis-acquires-all-remaining-rights-gsks-ofatumumab-develop-treatments-ms-and Novartis announced today that it has entered into an agreement to acquire all remaining rights to Ofatumumab from GlaxoSmithKline plc. Ofatumumab, a fully human monoclonal antibody which targets CD20, is being developed for relapsing remitting multiple sclerosis (RRMS) and other autoimmune indications. Novartis previously acquired the rights to Ofatumumab for oncology indications and it is marketed under the brand name Arzerra. …Novartis will be responsible for the worldwide development, regulatory and commercialization activities for Ofatumumab. Under the terms of the agreement, Novartis will make an initial upfront payment of $300 million to GSK for the acquisition of the compound and a further payment of $200 million payable following the start of a phase III study in MS by Novartis. Upon completion of pre-determined milestones, contingent payments of up to $534 million may be made. Novartis will also pay royalties of up to 12 per cent to GSK on any future net sales of Ofatumumab in auto-immune conditions. NVS already owned the rights to Arzerra for cancer indications as a consequence of the asset swap with GSK in early 2014 (#msg-100944174). Note: NVS’ big-selling MS drug, Gilenya, goes off-patent in a few years.