Bristol-Myers Squibb announces planned divestiture of HIV R&D Portfolio to ViiV Healthcare.
M2 PHARMA-December 18, 2015-Bristol-Myers Squibb announces planned divestiture of HIV R&D Portfolio to ViiV Healthcare
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Biopharmaceutical company Bristol-Myers Squibb Company (NYSE:BMY) reported on Thursday that it has entered into two individual agreements to divest its pipeline of investigational HIV medicines consisting of a number of programmes at different stages of discovery, preclinical and clinical development to ViiV Healthcare.
As part of the agreements, ViiV will pay to Bristol-Myers Squibb upfront payments totaling USD350m with potential development and regulatory milestone payments of up to USD518m for the clinical assets and up to USD587m for the discovery and pre-clinical programmes.
Following the approval and commercialisation of the products, ViiV Healthcare will pay tiered royalties, pay sales-based milestone payments of up to USD750m for each of the clinical assets as well as up to USD700m for each of the discovery and pre-clinical programmes.
The Bristol-Myers Squibb clinical stage HIV pipeline reportedly includes an attachment inhibitor (BMS-663068) that is being investigated in Phase III as a therapeutic option for heavily treatment-experienced patients as well as a maturation inhibitor (BMS-955176) that is being investigated in Phase IIb development for treatment-naive and treatment-experienced patients. The pipeline includes active preclinical and discovery stage programmes.
Upon closing, ViiV Healthcare will manage and resource the acquired development programmes, Bristol-Myers Squibb will continue to provide at ViiV Healthcare's expense certain research and development support and 20 Bristol-Myers Squibb employees are being offered the opportunity to transfer to ViiV Healthcare.
Closing is expected during the first half of 2016, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
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|Date:||Dec 18, 2015|
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