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Hepatitis C Virus
Dendreon Agrees to Sell VICTRELIS(TM) boceprevir Royalty Interest for $125 Million
December 23rd, 2011
Dendreon Corporation (NASDAQ:DNDN) announced that it has agreed to sell for $125 million in cash its royalty interest related to intellectual property licensed to Schering-Plough Ltd. and Schering Corporation (collectively Schering, each now a wholly owned subsidiary of Merck & Co., Inc.) and associated with VICTRELIS™ (boceprevir), a treatment for chronic hepatitis C. The royalty interest was acquired by CPPIB Credit Investments Inc., a wholly-owned subsidiary of CPP Investment Board (CPPIB). The transaction is expected to close in December 2011. The intellectual property related to VICTRELIS was co-developed by Corvas International, Inc. and Schering and, was acquired by Dendreon in...
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Source: Investment Weekly News (2011-12-23)
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