Have no idea was Eyetech deal mentioned anywhere at SI, but bios (we) have two nice Christmas present from PFE.
Pfizer To Pay Eyetech $100 Million In Deal
Wednesday December 18, 6:23 am ET
NEW YORK -(Dow Jones)- Pfizer Inc. (NYSE:PFE - News) and Eyetech Pharmaceuticals Inc. signed an agreement to develop and sell Eyetech's Macugen, a potential treatment for age-related macular degeneration and diabetic macular edema, which both cause blindness.
In a press release Wednesday, Pfizer said it will make initial payments of $ 100 million, with $195 million in possible milestone payments, based on gaining regulatory approvals.
Privately held Eyetech also has the potential to receive up to $450 million in additional milestone payments, based on successful commercialization and sales levels.
Pfizer, which reported revenue of $25.18 billion for the nine months ended Sept. 29, will fund the majority of the ongoing development for the drug used in these indications.
Press Release Source: Pfizer Inc; Neurocrine Biosciences, Inc.
Neurocrine, Pfizer Announce Worldwide Agreement To Develop, Promote Insomnia Treatment
Thursday December 19, 10:30 am ET
Indiplon in Phase III Development for Multiple Aspects of Insomnia
SAN DIEGO, and NEW YORK, Dec. 19 /PRNewswire-FirstCall/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX - News) and Pfizer Inc today announced a global agreement for the exclusive worldwide development and commercialization of indiplon, Neurocrine's Phase III compound for the treatment of insomnia. In addition, Neurocrine will have the opportunity to detail Pfizer's antidepressant Zoloft® (sertraline HCl).
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Under terms of the collaboration, which is subject to government approval, Neurocrine will receive an initial payment of $100 million and up to $300 million in milestone payments. Pfizer will fund the ongoing development of indiplon and pay royalties on worldwide sales and co-promotion fees in the United States. The companies will collaborate on the clinical development of indiplon and co-promote the product in the United States; Pfizer will hold an exclusive license to develop and market indiplon outside the United States.
Pfizer also will support the creation of a 200-member Neurocrine sales force to reach psychiatrists and sleep specialists. This sales force will detail Zoloft to U.S. psychiatrists after Neurocrine submits the indiplon New Drug Application to the U.S. Food and Drug Administration, which could be as early as year-end 2003. Following the U.S. launch of indiplon, Pfizer will grant Neurocrine a staged $175 million secured short-term credit facility. |
