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ZURICH, Sept 14 (Reuters) - Swiss pharmaceuticals group Novartis (NOVN.VX: Quote, Profile, Research) said it completed an agreement with Bayer Schering (BAYG.DE: Quote, Profile, Research) over manufacturing rights of Novartis's Betaseron multiple sclerosis treatment.
As part of the deal, announced in March 2007, Novartis will receive a one-time payment of about $200 million.
Novartis said it had transferred manufacturing responsibility for Betaseron to Bayer Schering and received a payment for the transfer of production equipment, inventory and leasing of buildings at a site in Emeryville, California.
The Swiss firm said it would continue to receive royalties from Bayer Schering until October 2008 for its global sales of Betaseron, which is an injectable treatment for relapsing forms of multiple sclerosis.
Novartis said it would be supported by Bayer Schering in the regulatory filing process of a Novartis-branded version of Betaseron which is expected to be introduced in 2009. Betaseron is currently marketed by Bayer.
((Reporting by Andrew Hurst, editing by Paul Bolding; +41 44 631 7336; zurich.newsroom@reuters.com)) Keywords: NOVARTIS BAYER/
So I'm guessing there will be a generic version of Betasron in 2009, but at what price? Just found this interesting.
Diane _________________ Every journey begins with a single step...Diane
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