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Vertex Pharmaceuticals and Janssen Pharmaceutica, a Johnson & Johnson Company, Form Collaboration to Develop and Commercialize VX-950 for Treatment of Hepatitis C
Vertex Pharmaceuticals and Janssen Pharmaceutica, a Johnson & Johnson Company, Form Collaboration to Develop and Commercialize VX-950 for Treatment of Hepatitis C.
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[{"type":"text","content":"\n\n\n\n\n\n - Vertex Retains all North American Rights -\n\n - Janssen Obtains Exclusive Rights in Europe and Other Regions -\n\n - Vertex to Receive $165 Million Upfront; Tiered Royalty Averaging\n mid-20 Percent Range Based on Successful Commercialization -\n\nNEW BRUNSWICK, N.J. and CAMBRIDGE, Mass., June 30 /PRNewswire-FirstCall/\n-- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and Janssen\nPharmaceutica, N.V., a Johnson & Johnson (NYSE: JNJ) company, announced today\nthat they will collaborate 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, and 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\"Janssen and Tibotec are committed to developing and commercializing\ninnovative and transformational products for viral diseases, and will\ncontribute important capabilities and resources that will strengthen our\nglobal clinical, regulatory, manufacturing and commercial execution for the\nVX-950 program,\" said Joshua Boger, Ph.D, President and Chief Executive\nOfficer of Vertex. \"Our vision for transforming hepatitis C therapy is\nclosely aligned with that of Janssen and Tibotec, and we look forward to\nworking with them to ensure VX-950's rapid advancement in Europe and other\nterritories.\"\n\"Vertex shares with us the vision that VX-950 could represent a\nsignificant step forward in treating the growing number of patients with\nhepatitis C in the coming years,\" said Joseph Scodari, Worldwide Chairman,\nPharmaceuticals Group of Johnson & Johnson. \"This agreement further reinforces\nour established strong commitment to finding innovative treatments for global\nviral diseases.\"\n\nTerms of the Agreement\nUnder the terms of the agreement, Janssen receives exclusive rights to\ncommercialize VX-950 in Europe, South America, the Middle East, Africa and\nAustralia. Vertex will receive an upfront payment of $165 million upon\nsigning the contract. In addition, Vertex could receive up to $380 million\nbased on successful development and launch of VX-950 in the territories. ...