Kicking 2015 Off With A Multi-Million Dollar Licensing Deal Puts This Pharmaceutical Stock On The List Of Early Market Leaders For 2015
Under the terms of a recent licensing agreement between Ariad (ARIA) and CSC Pharmaceuticals, the Austrian subsidiary of Angelini Pharma, the Company will obtain an upfront payment of $7.3million. This will give Angelini the exclusive rihts to commercialize Iclusig for indications applications approved by the European Medicine Agency in both Central and Eastern Europe. ARIAD received Marketing Authorization Approval for Iclusig from the European Medicine Agency in July 2013. The commercial launches of Iclusig in these Central and Eastern European countries are expected to begin in 2015.
Iclusig was designed using ARIAD’s computational and structure-based drug design platform specifically to inhibit the activity of BCR-ABL. Iclusig targets not only native BCR-ABL but also its isoforms that carry mutations that confer resistance to treatment. Click here to see what Marty J. Duvall, executive vice president and chief commercial officer of ARIAD, had to say about this major Company milestone.