Biotech Values

[DewDiligence]

VRX Sells Rights to HIV, Cancer Programs

[They recently offloaded their HBV program (Pradefovir) to SGP (#msg-15531704). Will there be any pipeline left?]

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20061222:MTFH73478_2...

>>
Fri Dec 22, 2006 9:10 AM ET

Dec 22 (Reuters) - Valeant Pharmaceuticals International <VRX> said it would sell rights to its HIV and cancer development programs to Ardea Biosciences Inc.

Ardea will pay Valeant on achieving clinical and developmental milestones, and will also pay royalties, Valeant said in a statement.

Valeant will retain an option to reacquire marketing rights for the HIV program outside of the U.S. and Canada after Ardea completes late-stage trials, it said.

The option may be exercised after the completion of mid-stage trials, and would require Valeant to make milestone and royalty payments to Ardea, Valeant said.
<<