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Novartis agreed to purchase the rights of a drug to treat a skin disease to developers Galapagos NV and MorphoSys AG in a transaction that could reach 1,000 million US dollars by the time the Head of the body, Vas Narasimhan, focuses the Swiss pharmaceutical company in the development of innovative prescription medicine products.
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Novartis will make an advance of 95 million euros ($ 111 million) and payments up to 850 million euros on the basis that the drug achieves certain regulatory, commercial and commercial goals, said MorphoSys.
(Read: Colombia drops Glivec's price by 44%, after several discussions with Novartis)
Payments will be divided equally between the Galapagos, headquartered in Mechelen, Belgium, and MorphoSys , based in Planegg, Germany . Narasimhan needs new medicines to offset the impact of cheaper copies of previous products.
(Read: Innovation and quality will mark the future of health in Colombia)
The experimental antibody known as MOR106 fights a severe form of 39 eczema and its incorporation will support a portfolio of dermatological diseases that include, among others, with Cosentyx a drug to treat psoriasis that is fast becoming a success, and Xolair, an asthma drug that is also prescribed for chronic urticaria.
"The economic level seems attractive" for the two biotechnology firms wrote Igor Kim, an badyst at Oddo BHF, in a note to customers. Novartis also agreed to pay Galapagos and MorphoSys royalties between 10-15 and 20-25 as a percentage of sales.
MorphoSys has raised its forecast for 2018 with a new sales calculation of about three times the previous one and a lower operating loss. Atopic dermatitis, which MOR106 aims to fight, is a serious form of eczema that causes itching or leaks or skin seepage.
It is estimated that this affects 8% of adults and 14% of children worldwide, and those who suffer from it have few treatment options, according to Novartis. The Swiss company is already conducting mid-stage trials of an experimental drug for the treatment of the disease purchased in 2016.
The transaction means that Novartis will challenge Sanofi and Regeneron Pharmaceuticals Inc., which drug Dupixent for atopic dermatitis It was put on sale last year. Novartis could explore the possibilities of the drug in other areas, a path that Sanofi and Regeneron have already followed, which has tested Dupixent among others for the treatment of nasal polyps and a form of inflammation of the body. ;esophagus.
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