Please login to the form below

Not currently logged in
Email:
Password:

QLT sells Acne drug to Allergan

QLT has entered into an agreement with Allergan for the sale of its worldwide rights to Aczone, a treatment gel for acne vulgaris
QLT has entered into an agreement with Allergan for the sale of its worldwide rights to Aczone, a treatment gel for acne vulgaris.

Under the terms of the agreement, QLT will receive a one-time payment of approximately $150m. Payment will be made upon closing of the deal, which is expected to take place in the Q3 2008.

Although licensed for treatment in the US and Canada over three years ago, Aczone was never marketed. QLT carried out further clinical trials after the FDA ordered a label restriction requiring blood screening before treatment. Earlier this year, the FDA removed the requirement for this restriction.

Bob Butchofsky, president and CEO of QLT said: "The divestment of Aczone is a major milestone for QLT and this transaction demonstrates that our persistence in completing the work needed to remove the blood monitoring restriction from the Aczone label in the United States provided significant value for our shareholders."

This is the second asset purchase agreement to divest non-core assets that the company has entered into since announcing its strategic restructuring earlier this year.

11th June 2008

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Conversis Medical

Conversis Medical is a translation company specialising in translation and localisation for the medical industry, particularly in clinical trial projects....

Latest intelligence

Products come and go, but a pharma company’s most valuable, durable asset is its reputation, writes Duncan Mackenzie-Reid and Simon Grist
...
Erik
A quest for innovative solutions
UCB looks to the future through a PRISM...
Big data, privacy and the rise of genomic testing
Blue Latitude Health speaks to Johan Christiaanse, Marketing Director at BGI, to find out how the medical profession can overcome one of the major barriers to precision medicine – big...

Infographics