Swiss drugmaker Novartis said on Thursday it would pay $75 million to secure exclusive worldwide rights to an experimental blood clot preventer from privately held U.S. biotechnology company Portola Pharmaceuticals.
The drug, elinogrel, is in mid-stage testing for both oral and intravenous formulations for the prevention of blood clots that can cause heart attacks and strokes.
Novartis, which would be responsible for Phase III development, manufacturing and commercialization of elinogrel, said the medicine has shown potential to offer clinical improvements over current anti-clotting medications, with an instant onset of action and effects that are easily reversed when necessary.
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