Ipsen and Inspiration Biopharmaceuticals amend terms of alliance
21 August 2012 11:15 in Pharmaceutical Company Restructures
Ipsen has announced that it is restructuring its haemophilia-oriented strategic agreement with Inspiration Biopharmaceuticals.
Under the terms of the agreement, Ipsen will pay $30 million (19.03 million pounds) to Inspiration to recover commercial rights to the haemophilia A therapy OBI-1, while also gaining rights to the haemophilia B treatment IB1001.
As a result, Ipsen will record sales of OBI-1 and IB1001 in its drug sales line, while paying mid-teen royalty on OBI-1 sales and a higher double-digit royalty on IB1001's sales to Inspiration.
Other elements of the new agreement include the resetting of certain previous contractual obligations and an investment of $20 million in Inspiration by Ipsen, with the latter company also gaining the right to appoint two additional members to the former's board of directors.
This comes after the companies announced last August that they will be creating a joint haemophilia business unit structure to act as the exclusive sales organisation for all haemophilia products commercialised under the Inspiration brand in Europe.
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Story collated for Zenopa by the Axonn News Agency