BioPharma Dive May 28, 2024
The agreement involves royalties for a brain cancer therapy Agios sold to French drugmaker Servier four years ago.
Dive Brief:
- Agios Pharmaceuticals has agreed to sell to Royalty Pharma rights to royalties on a brain cancer drug it invented and sold to Servier.
- Per deal terms announced Tuesday, Agios will receive $905 million in cash from Royalty Pharma should the drug, currently known as vorasidenib, win approval from U.S. regulators. In exchange, Royalty Pharma will receive a 15% royalty on up to $1 billion in annual U.S. sales, and a 12% royalty on U.S. sales over $1 billion. Agios will keep 3% of the royalties on U.S. sales surpassing $1 billion.
- Royalty Pharma expects the drug to generate more...
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