Date: 2012-06-11
Type of information: Termination of an agreement
Compound: Toctino® (alitretinoin)
Company: Stiefel, a GSK company (UK) Basilea Pharmaceutica (Switzerland)
Therapeutic area: Dermatological diseases
Type agreement: licensing -product acquisition
Action mechanism:
Disease: severe chronic hand eczema unresponsive to potent topical steroids in adults
Details:
- Stiefel, a GSK company, has entered into a worldwide agreement to acquire Toctino® (alitretinoin) from Basilea Pharmaceutica. Under the terms of the agreement, Stiefel will acquire all Toctino® patent rights, trademarks and product registrations owned by Basilea and will license certain clinical information and product know-how from Basilea. Stiefel will be responsible for the product’s further development, manufacture and commercialisation worldwide.
The transaction is subject to competition approval in Germany.
Toctino® is a once-daily oral retinoid and the only prescription medicine specifically approved for the treatment of severe chronic hand eczema unresponsive to potent topical steroids in adults. It is commercially available in 14 countries, approved in an additional 15 countries, and is in a Phase 3 trial in the US. In 2011, worldwide sales of Toctino were £22m.
Financial terms:
- Basilea will receive an initial payment of £146m (€181.2 million - CHF 216 million) in cash from Stiefel and is eligible to receive further payments of up to £50m (€62 million - CHF 74 million) upon FDA approval of the product in the US and double-digit success payments on US net sales, beginning three years after launch of the product in the US.
Latest news:
- • On January 21, 2016, GSK informed Basilea that it has elected to discontinue its U.S. alitretinoin program. Global rights to Toctino® (alitretinoin) were transferred to Stiefel, a GSK company, in July 2012. Basilea has the option to re-acquire the U.S. alitretinoin rights. GSK continues to commercialize Toctino in its current markets.
Is general: Yes
