BTG will pay Nycomed up to $16.6 million as part of an agreement designed to streamline transfer of the latter’s exclusive U.S. distribution rights to the rattlesnake antivenom CroFab™ and the digoxin-overdose antidote DigiFab™ back to BTG. Nycomed’s contractual rights to the drugs are due to end on September 30, although under terms of this contract the company has rights to sell remaining inventories for up to a further six months.
The new agreement means the firms will cooperate on the transition of sales, marketing, promotion, and distribution activities back to BTG, which will also have access to Nycomed’s market data, customers, and sales force. From October 1 BTG will have exclusive rights to market and sell the products. The total payment due to Nycomed will depend on the amount of product delivered to and sold by the firm before September 30. BTG says it expects the final payment will be in the region of $14.5 million.
CroFab is marketed by Swedish Orphan International in the Nordic countries; and by BTG in other EU countries and the rest of the world. Beacon Pharmaceuticals markets DigiFab in the EU (excluding the Nordic countries). BTG and local partners market the drug in the rest of the world.