Xolair collaboration settlement
Executive Summary
Genentech, Novartis and Tanox settle disagreements over anti-IgE antibody collaboration that includes Xolair. Genentech and Novartis each pay Tanox $3.3 mil. for development costs of TNX-901, an agent with a mechanism of action similar to Xolair; Tanox relinquishes rights to manufacture Xolair in exchange for payments for Xolair produced and accelerated debt forgiveness. The collaboration was the result of a 1996 settlement (1"The Pink Sheet" June 15, 1996, T&G-8)...
Genentech, Novartis and Tanox settle disagreements over anti-IgE antibody collaboration that includes Xolair . Genentech and Novartis each pay Tanox $3.3 mil. for development costs of TNX-901, an agent with a mechanism of action similar to Xolair; Tanox relinquishes rights to manufacture Xolair in exchange for payments for Xolair produced and accelerated debt forgiveness. The collaboration was the result of a 1996 settlement (1 (Also see "Genentech/Tanox/Ciba to combine anti-IgE antibody development efforts." - Pink Sheet, 15 Jul, 1996.), T&G-8).... |