Novartis and Bayer today inked a pact on multiple sclerosis drugs that will see Bayer assist Novartis in winning approval for the FTY720 oral once-daily therapy that's currently in Phase III development.
Bayer will pay Novartis $200 million for the transfer of production equipment, inventory and leasing of buildings. Bayer also will assume manufacturing responsibility for Betaseron, while Novartis will still get royalties on Betaseron through Oct. 2008.
Bayer also will manufacture FTY720 in return for a double-digit royalty payment.
Novartis is planning to file for FDA approval of FTY720 in 2009.
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