Bristol-Myers Squibb (BMY)

Bristol-Myers Squibb and Alder Biopharmaceuticals announced a global agreement for the development and commercialization of ALD518, a novel biologic that has completed Phase IIa development for the treatment of rheumatoid arthritis.
Under the terms of the collaboration agreement, Alder will grant to Bristol-Myers Squibb worldwide exclusive rights to develop and commercialize ALD518 for all potential indications except cancer, for which Alder will retain rights and grant Bristol-Myers Squibb an option to co-develop and commercialize outside the United States. An upfront cash payment of $85 million, potential development-based and regulatory-based milestone payments of up to $764 million across a range of indications, potential sales-based milestones which, under certain circumstances, may exceed $200 million, and royalties on net sales are payable to Alder by Bristol-Myers Squibb.

Nov 12 · 5:02:00 PM · Source: Reuters
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by Michael Oliveto