This article was originally published in The Tan Sheet
Avanir Pharmaceuticals sells portion of North American royalty rights for 10% docosanol cream cold sore treatment to Drug Royalty USA for $24.1 mil. Avanir received $20.5 mil. initial payment Dec. 24, will obtain additional $3.6 mil. from Drug Royalty following approval of a patent extension, which is expected in early 2003, company says. Under the agreement, Avanir retains rights to 50% of royalties on annual sales exceeding $62 mil., as well as rights to all current, future royalties from sales outside North America and other potential product indications, such as herpes simplex virus 2 and herpes zoster, firm says. Abreva is marketed in U.S., Canada by GlaxoSmithKline...
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