Sanofi, Debiopharm Deals Buy ImmunoGen Extra Time
ImmunoGen has turned around two cash-generation deals in a week as it seeks to extend its funding and narrow its focus. It has sold one asset to Debiopharm and foregone future royalties on five products licensed to Sanofi in exchange for an upfront lump sum.
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The clinical disappointment for Hoffman-La Roche's Kadcyla (trastuzumab emtansine) in December 2014 has forced Boston-based ImmunoGen, which licenses the toxin and linker of Kadcyla to Roche, into an expensive $200m deal on its near-term royalties on Kadcyla for cash to maintain R&D spending. Under the deal, ImmunoGen will receive the cash in early April 2015 from TPG Special Situations Partners (TSSP), a specialist finance house, and then will see nothing of the Kadcyla royalty stream until TSSP has received at least $235m (if the royalties flow in) or $260m (if it's a trickle).
INFOGRAPHIC: In 2019, 10 blockbuster medicines booked combined sales of $92.5bn. This infographic examines those drugs that commanded the greatest revenues globally, and answers some key questions. Which therapeutic areas include the most lucrative blockbusters? Which companies enjoyed their spoils? And which drugs were new to the top 10 last year? It also takes a look at the position of these products on the all-important US market.