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May 22, 2008

Lundbeck Gains European Marketing License to Myriad’s Alzheimer’s Candidate for $100M Upfront

  • Myriad Genetics has chosen H. Lundbeck for European commercialization of Flurizan®, its Phase III Alzheimer’s treatment. The deal could be worth over $350 million for Myriad.

    Lundbeck gains rights to market and sell Flurizan in the EU and certain non-EU countries and will manage the related regulatory process. It agreed to initially pay $100 million and will pay up to $250 million in connection with regulatory approvals. Furthermore, Myriad will receive commercialization milestones.

    Lundbeck will also purchase bulk pharmaceutical material from Myriad. The firm will tender escalating royalties of 20–39% on sales, less the amount paid for the bulk drug.

    Lundbeck has an established Europe-based sales forces specializing in central nervous system disorders including Alzheimer’s disease. Its portfolio includes five drugs in different indications.

    Myriad reports that it will now concentrate on precommercial market development in the U.S. The company is looking for a revenue-share arrangement with a major pharmaceutical firm that has a sales force that taps into primary-care physicians, while Myriad’s will create a 200-person strong sales force will address the specialty-physician market.
    For Japan and Pacific Rim countries, Myriad expects to sign a licensing deal, similar to that with Lundbeck, for commercialization in this region.