Medarex Pipeline Hearty As Investors Focus On Dicey Melanoma Bid
This article was originally published in The Pink Sheet Daily
Phase III results with ipilimumab in skin cancer due by the end of this year; income from just-approved Simponi likely to pump value meanwhile.
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Medarex and partner Massachusetts Biologic Laboratories will split equally $60 million upfront and potential milestones worth $165 million.
In a creative deal that echoes the strategic tie-up last year between Infinity and Mundipharma, Italian giant Chiesi Farmaceutici is buying a majority stake in Cornerstone Therapeutics, which gets $15.5 million along with U.S. rights for 10 years to Chiesi's marketed lung surfactant Curosurf