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Janssen Pharmaceutica Announces Collaboration with Vertex Pharmaceuticals to Develop and Commercialize VX-950 for Treatment of Hepatitis C
Janssen Pharmaceutica Announces Collaboration with Vertex Pharmaceuticals to Develop and Commercialize VX-950 for Treatment of Hepatitis C.
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[{"type":"text","content":"\n\n\n\n\n- Janssen Obtains Exclusive Rights in Europe and Other Regions -\n\nNEW BRUNSWICK, N.J., June 30 /CNW/ -- Johnson & Johnson\n(NYSE: JNJ) announced today that Janssen Pharmaceutica N.V., a Johnson &\nJohnson company, has entered into a collaboration with Vertex Pharmaceuticals\nIncorporated (Nasdaq: VRTX) to develop and commercialize Vertex's\ninvestigational hepatitis C virus (HCV) protease inhibitor, VX-950. Under the\nagreement, Janssen will have exclusive rights in Europe, South America, the\nMiddle East, Africa and Australia. Vertex will retain exclusive commercial\nrights to VX-950 in North America. Tibotec Pharmaceuticals, Ltd., another\nJohnson & Johnson company, will lead the development and commercialization of\nVX-950 for Janssen.\n\nTerms of the Agreement\nTerms of the transaction include a before-tax upfront payment of\n$165 million, which will be expensed in the second quarter. In addition, there\nwill be additional payments contingent upon successful development, approval\nand launch of VX-950 in the regions where Janssen has commercial rights and\nreimbursement of certain drug development costs. The agreement also includes a\nroyalty on product sales in Europe, South America, the Middle East, Africa and\nAustralia.\nThe Company anticipates that the $165 million payment will largely be\noffset by other non-recurring gains recognized over the balance of the year.\nTherefore, this transaction is not expected to impact full year guidance.\n\nAbout VX-950\nVX-950 is an investigational oral inhibitor of hepatitis C virus protease,\nan enzyme essential for viral replication, and is one of the most advanced\ninvestigational agents that specifically targets HCV. In clinical studies to\ndate, researchers have observed rapid and dramatic antiviral activity with VX-\n950 and no patients have discontinued treatment and no serious adverse events\nhave been reported.\n\nAbout Hepatitis C\nHepatitis C is a liver disease caused by the hepatitis C virus, which is\nfound in the blood of people with the disease. HCV, a serious public health\nconcern affecting 170 million people worldwide, is spread through direct\ncontact with the blood of infected people. Though many people with hepatitis C\nmay not experience symptoms, others may have symptoms such as jaundice,\nabdominal pain, fatigue and fever. Hepatitis C s...