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Agreements

Date: 2012-04-12

Type of information: Promotion agreement

Compound: Alpharadin® (radium-223 chloride)

Company: Algeta (Norway) Bayer (Germany)

Therapeutic area: Cancer Oncology

Type agreement:

promotion

Action mechanism:

Alpharadin® (radium-223 chloride) is containing an alpha-particle emitting nuclide. This compound mimics many of the behaviors of calcium in the bone to target areas of high bone turnover in and around bone metastases.

Disease:

Details:

Algeta has announced that it has exercised its option to co-promote Alpharadin for the treatment of cancer patients with bone metastases in the United States. In September 2009, Bayer signed an agreement with Algeta for the development and commercialization of Alpharadin. Under the terms of the agreement, Bayer will develop, apply for global health authority approvals, and commercialize Alpharadin globally, while Algeta retained an option for up to 50/50 co-promotion and profit-sharing in the United States, which it has now exercised in full.
Algeta has begun building its commercial operation in anticipation of the approval and launch of Alpharadin in the US. To such an end, Algeta has established a subsidiary in the US (\"Algeta US\") to carry out the co-promotion of Alpharadin, pursuant to its 2009 agreement with Bayer. The headquarters of this operation will be located in Cambridge, MA. In January 2012, Algeta US hired Jeff Albers, formerly Vice President, US Hematology & Oncology Business, at Genzyme as President. Algeta US has subsequently hired Philina Lee, formerly Global Product Manager for Jevtana (cabazitaxel) at Sanofi, as Director of US Marketing. Algeta US is now focused on building a field force including marketing and medical affairs personnel ahead of the launch of Alpharadin. This process will be accelerated as a result of Algeta\'s successful fundraising in February 2012.
 

 
 
 
  

Financial terms:

Under the terms of the global development and commercialization agreement for Alpharadin signed between Algeta and Bayer Pharma AG (Bayer) in 2009, Algeta will now be eligible to receive 50 percent of the profits attributable to sales of the drug in the US and will be responsible for 50 percent of the costs of commercializing Alpharadin in this territory.

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Is general: Yes