Baxter agrees licensing deal for Glassia
24 August 2010 00:00 in Pharmaceutical Company Product News
Baxter has agreed a new deal which gives it commercialisation rights to a new therapy for alpha-1 antitrypsin deficiency (AATD) patients.
The company has paid an upfront sum of $20 million (13 million pounds) to secure the rights to Glassia, which is specified for chronic augmentation and maintenance therapy in individuals with emphysema resulting from AATD.
This will see Baxter take over responsibility for manufacturing the drug from its original creator Kamada, which will receive additional payments based on the achievement of commercial milestones.
Larry Guiheen, president of global biopharmaceuticals at Baxter BioScience, said: "The agreement with Kamada underscores Baxter's commitment to expanding the diagnosis of AATD by bringing new and innovative therapeutic options to alpha-1 patients and their treating physicians."
Last month, the pharmaceutical company published its financial results for the second quarter of 2010, during which the firm saw its net sales increase by two per cent year-on-year.
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