Anavex Life Sciences Corp (AVXL)

[powerwalker]

From the Benzinga wire today:

Biogen, Eisai Amend Their Alzheimer's Drug Marketing Pact
8:01 am, March 15, 2022

Portfolios: First Watchlist
Tickers: BIIB ESALF ESALY
Read the full article

Eisai Co Ltd (OTC: ESALY) is giving up its right to share in profits from Aduhelm (aducanumab-avwa), which was developed in partnership with Biogen Inc (NASDAQ: BIIB).
Biogen and Eisai have amended their agreement to give Biogen full authority to make regulatory and sales decisions regarding Aduhelm.
From 2023, Eisai will receive royalties starting at 2% of Aduhelm's global sales, increasing as sales rise, reaching 8% when Aduhelm's sales exceed $1 billion annually.
In December, Biogen reduced the price of Aduhelm by about 50% in the wake of lower-than-expected sales.
Related: Biogen's Alzheimer's Drug Clocks Q4 Sales Of Just $1M, FY22 Earnings Guidance Below Consensus.
The companies said the financial terms of their partnership to develop another Alzheimer's drug, lecanemab, would remain unchanged.
Eisai is responsible for leading the regulatory approval process for lecanemab globally, and Biogen is entitled to 50% of profits and losses related to the drug.
The companies extended their agreement for Biogen to manufacture the drug from five years to 10 years.
Price Action: BIIB shares closed 0.06% lower at $193.64 during after-hours trading on Monday.