07 January 2004 19:04 [Source: ICIS news]
LONDON (CNI)--Akzo Nobel's human health business Organon has transferred its rights to anti-thrombotic Arixtra and certain development obligations to French pharmaceuticals partner Sanofi-Synthelabo in a deal tied to future revenues of the drug.
In a statement late Wednesday, the Dutch pharmaceuticals, coatings and chemicals company said that Organon would receive income from Sanofi based on future sales from jointly developed anti-blood clot products.
The deal with Sanofi also includes certain other oligosaccharides such as idraparinux, said Akzo.
The rejig of their collaboration on anti-thrombotics follows their conclusion that a single management structure was best placed to boost commercial opportunities for Arixtra in the "complex" US market. In addition, Akzo noted that the shake-up also follows the strategic review of its pharmaceuticals business, carried out last year.
While Azko said that it expected the revised collaboration announced today to contribute to its profit margin over the coming years, financial details of the arrangements with Sanofi were not disclosed.
Akzo board member Toon Wilderbeek said: "Our goal is to safeguard margins in the short term and drive growth in our pipeline. This strategic realignment on Arixtra will secure Organon's profitability and maximise research and development (R&D) cost benefits while lowering our risk profile."
The revised deal is subject to regulatory approval, and employee representatives have been notified, said Akzo.
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