GTC Biotherapeutics regains US commercialization rights to ATryn from Lundbeck

GTC Biotherapeutics, Inc. ("GTC", OTCBB: GTCB.OB) announced today that it has signed a definitive agreement whereby the Company has regained US commercialization rights to ATryn from Lundbeck, Inc., a wholly owned subsidiary of H. Lundbeck A/S in Denmark (Copenhagen Stock Exchange: LUN). The two companies have agreed to a defined transition period of up to six months wherein Lundbeck will perform certain services on behalf of GTC in order to ensure that ATryn will continue to be available to physicians and their patients in an uninterrupted fashion as commercialization responsibilities are smoothly transitioned to GTC. Thereafter, Lundbeck will earn a royalty on net sales beginning in two years, with a predefined cumulative maximum.

William Heiden, Chairman, President & CEO at GTC stated, "Our collaboration with Lundbeck has been excellent and I would like to thank the Lundbeck team which has worked so diligently on the successful launch of ATryn in the US. Both parties agree that it is now the right time and in the best interests of both companies, given their respective strategic objectives, to transfer ATryn rights back to GTC. We look forward to working through this transition with Lundbeck to ultimately take on full responsibility for the commercialization of ATryn in the US. Looking to the future, GTC is committed to maximizing the commercial potential for ATryn in the US marketplace."

About GTC Biotherapeutics

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post
You might also like...
Flow Eighteen38 receives €5 million EUR (c.$5.58 million USD) to expand production and biophysical capabilities