Home » News » 12/05 » Wyeth Pharmaceuticals signs $400m deal with Progenics

Wyeth Pharmaceuticals signs $400m deal with Progenics

Date published: 30/12/2005

Wyeth Pharmaceuticals and Progenics Pharmaceuticals have announced that they have entered into an exclusive, worldwide agreement worth over $400 million for the joint development and commercialisation of methylnaltrexone (MNTX) for the treatment of opioid-induced side effects, including constipation and post-operative bowel dysfunction.

Under the terms of the collaboration, Wyeth receives worldwide rights to MNTX, and Progenics retains an option to co-promote the product in the United States. The companies will collaborate on the worldwide development of MNTX. The transaction includes an upfront payment of $60 million to Progenics with as much as an additional $356.5 million payable upon achievement of certain milestones.

"MNTX fits well within our current portfolio and represents a broad treatment platform with multiple products intended to address unmet medical needs in opioid-induced bowel disorders," said Bernard Poussot, president of Wyeth Pharmaceuticals and executive vice president, Wyeth

Currently, there are no therapies approved to treat the side effects of opioids. These side effects often prevent optimal pain control and may prolong hospitalisation.

© Adfero Ltd

Disclaimer

AllAboutMedicalSales excludes any warranty, express or implied, as to the quality, accuracy, timeliness, completeness or fitness for a particular purpose of this briefing. AllAboutMedicalSales will not be liable for any claims, penalties, losses, damages, costs, or expenses arising from the use of or inability to use this briefing or from any unauthorised access to or alteration of the Briefing. AllAboutMedicalSales makes no warranty that the contents of this briefing are compatible with all computer systems and browsers.