Genzyme assumes primary responsibility for the development of alemtuzumab for multiple sclerosis
Genzyme Corporation is to acquire the worldwide rights to Campath (alemtuzumab) from Bayer HealthCare, giving Genzyme primary responsibility for the development and commercialisation of this treatment for multiple sclerosis (MS).
Genzyme Corporation is to acquire the worldwide rights to Campath (alemtuzumab) from Bayer HealthCare, giving Genzyme primary responsibility for the development and commercialisation of this treatment for multiple sclerosis (MS).
Bayer will continue to fund a portion of alemtuzumab's development in MS and will retain an option to co-promote the product in MS upon approval.
In addition, Genzyme will assume sole responsibility for worldwide sales and marketing for Campath in B-cell chronic lymphocytic leukemia (CLL), where it is indicated for use as a single agent in first-line and previously treated patients with this disease. Bayer will retain the right to develop and commercialise alemtuzumab in solid organ transplant indications.
The agreement further expands Genzyme's hematologic oncology commercial presence through the addition of Fludara (fludarabine) and Leukine (sargramostim), and provides an opportunity to integrate members of Bayer's experienced commercial team for all three drugs into Genzyme's global operations. Genzyme will acquire a new, Seattle-area Leukine manufacturing facility for US$75-$100m (Euro 56-75m) and hire staff following FDA plant approval, which is expected in 2010.
Bayer will receive payments based on revenues (subject to an aggregate cap) and potential milestone payments if cumulative revenue targets are achieved. There are no upfront payments for the rights of these three drugs.
The transaction could provide Genzyme with approximately US$185m (Euro 138m) in oncology revenue in 2009 and up to US$700m (â"šÂ¬524m) in revenue over the next three years. Genzyme's oncology segment revenues in 2008 were US$117m (â"šÂ¬88m).
