Here's the pr when pfizer bought the full rights from Sanofi.....
Pfizer to Purchase Sanofi-aventis Rights to Exubera(R) in Application of Change of Control Clauses
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BRIDGEWATER, N.J., Jan. 13 - Sanofi-aventis announced today the signature of an agreement to transfer its rights to Exubera(R), an inhaled human insulin, to Pfizer. Aventis and Pfizer formed an Alliance in 1998 to jointly develop, manufacture and market an inhaled insulin, Exubera(R). The contracts governing this Alliance contained change of control clauses which Pfizer chose to exercise following the acquisition of Aventis by Sanofi-Synthelabo.
Under the terms of the agreement signed today, sanofi-aventis will sell its share of the worldwide rights for the development, production and commercialization of Exubera(R) and its share of the Diabel joint-venture, a company based in Frankfurt, Germany, and owner of the production facility which manufactures the bulk insulin used in the production of Exubera(R).
For the assets and rights transferred, sanofi-aventis will receive a payment of US $1.3 billion net of German local taxes. The completion of the transaction is subject to certain closing conditions, notably approval from the German anti-trust authorities, and is expected to occur in the first quarter of 2006. |
