Abbott in cancer drug licensing deal with Eisai
NORTH CHICAGO, Ill., July 5 (Reuters) - Pharmaceutical company Abbott Laboratories Inc. (NYSE:ABT - news) and Eisai Co. Ltd. of Japan signed a licensing deal for Abbott to
market the Phase 1 development-stage cancer treatment compound E7010, the companies said on Wednesday.
Financial terms were not disclosed, but under the agreement Abbott will have worldwide marketing and development rights for the compound, except in Japan and Asia where Eisai
will maintain exclusive rights.
``This agreement advances Abbott's oncology pipeline by adding another promising compound that is currently in
development,'' said Arthur Higgins, president of Abbott's Pharmaceutical Products Division, said in a statement.
``We have identified oncology as one of our key therapeutic franchises, placing a significant focus on research and development in this area. The addition of this compound will enable us to enhance our pipeline and potential product offerings in the future,'' he said.
E7010 is an oral medication with that stops cell reproduction with fewer side effects than current chemotherapy treatments.
Preliminary data from Phase I clinical trials of E7010 indicate promising efficacy and tolerability, Abbott said.
The agreement will include milestone payments and royalties related to the development and sales of the compound.
Eisai Co is a research-based human health care company which discovers, develops and markets products in more than 30
countries.
Looking GOOD
chris |
