BioPharma Dive October 17, 2024
The deal offers Lexicon a cash infusion of $25 million as the company tries to broaden use of the heart failure and diabetes medication.
Dive Brief:
- Lexicon Pharmaceuticals is selling rights to its only marketed drug outside of the U.S. and Europe amid a restructuring and push to expand into Type 1 diabetes.
- Viatris has agreed to pay $25 million upfront for rights to sotagliflozin, Lexicon said Wednesday. Lexicon will also be eligible for royalties and payments for meeting certain regulatory and sales milestones. The milestone payments could add up to about $200 million, Jefferies analyst Andrew Tsai wrote in a note to clients.
- Lexicon currently sells the drug under the brand name Inpefa to reduce the risk of...
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