Deal Watch: Valeant Sells Off iNova To Finance Debt-Reduction Efforts
While troubled Valeant was divesting iNova to private equity investors, Novartis announced a pair of oncology-focused deals, out-licensing a brain cancer drug to Midatech and partnering with IBM Watson Health to optimize breast cancer treatment.
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The new collaboration announced 17 August is worth up to $475m in near-term upfront payments plus undisclosed milestone fees and royalties up to 24%.
Bristol makes its own deal with Celgene ally Dragonfly, while Gilead ends virology partnerships with Durect and Precision BioSciences.
Merus Labs' portfolio of well-established products are mainly marketed in Europe, and will drive the growth and diversification of Norgine’s specialty business in the region.