Abbott paying $57M for HCV program

[Guest guest]

Abbott paying $57M for HCV program

ABBOTT PARK, Ill., Dec. 12 (UPI) -- U.S. firm Abbott said Tuesday it would

pay Enanta $57 million for access to its hepatitis C drug discovery

technology.

Under the terms of the deal, Abbott gains access to a variety of Enanta's

compounds and their drug discovery capabilities in the HCV NS3 and NS3/4A

protease inhibitor field.

" Enanta has done compelling work in its HCV protease inhibitor program, and

we look forward to working together on the advancement of this global

program, " said Leonard, Abbott's vice president of global

pharmaceutical research and development.

In addition to the upfront payment of $57 million, Enanta stands to receive

additional milestone payments of up to $250 million and double-digit

royalties on resulting products. Enanta also holds an option to fund 40

percent of the development costs in exchange for a 40 percent profit share

in the United States.

http://www.patientlinx.com/Hepatitis/thearts.cfm?artid=1718240 & specid=43 & ok=yes

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[Guest guest]

Abbott paying $57M for HCV program

ABBOTT PARK, Ill., Dec. 12 (UPI) -- U.S. firm Abbott said Tuesday it would

pay Enanta $57 million for access to its hepatitis C drug discovery

technology.

Under the terms of the deal, Abbott gains access to a variety of Enanta's

compounds and their drug discovery capabilities in the HCV NS3 and NS3/4A

protease inhibitor field.

" Enanta has done compelling work in its HCV protease inhibitor program, and

we look forward to working together on the advancement of this global

program, " said Leonard, Abbott's vice president of global

pharmaceutical research and development.

In addition to the upfront payment of $57 million, Enanta stands to receive

additional milestone payments of up to $250 million and double-digit

royalties on resulting products. Enanta also holds an option to fund 40

percent of the development costs in exchange for a 40 percent profit share

in the United States.

http://www.patientlinx.com/Hepatitis/thearts.cfm?artid=1718240 & specid=43 & ok=yes

_________________________________________________________________

Get the latest Windows Live Messenger 8.1 Beta version. Join now.

http://ideas.live.com