CHICAGO, July 30, 2014 (GLOBE NEWSWIRE) -- Durata Therapeutics, Inc. (DRTX) announced today that its Dutch subsidiary, Durata Therapeutics International B.V., has entered into a license and supply agreement with Angelini, an international group leader in the pharmaceutical and mass-market sectors, to commercialize dalbavancin in 36 countries, which include Italy, Spain, Poland, Portugal, many Eastern European countries, Russia, Turkey, and Commonwealth of Independent States.
Durata will receive an upfront payment from Angelini of $15 million and another $10 million upon European Medicines Agency (EMA) approval. The Company will also receive payments upon the achievement of certain countries' pricing approvals and sales milestones, as well as royalties on sales. Durata's Marketing Authorization Application (MAA) for dalbavancin is under review with the European Medicines Agency and anticipates a decision in 1H 2015.
Durata owns the worldwide rights for development and commercialization or partnering of dalbavancin. Durata is currently commercializing DALVANCE(TM) (dalbavancin) for injection in the U.S. and, if approved in the EU, may choose to directly commercialize in the remaining parts of Western Europe, including the United Kingdom, Germany, and France, with a targeted hospital salesforce and to use a variety of collaboration arrangements for commercialization in other markets.
"We are pleased to have entered into this agreement with Angelini, a well-respected pharmaceutical company with rich history and significant experience marketing hospital-based products. This partnership is aligned with our strategy to bring dalbavancin to the market for the millions of people who may benefit from an innovative treatment option for serious skin infections in today's evolving health care environment," said Paul R. Edick, Durata's Chief Executive Officer.
"Angelini is proud of partnering dalbavancin with Durata for treating patients affected by serious skin infections. The new approach will allow patients, healthcare professionals and hospitals to overcome the standard daily or twice-daily IV antibiotic infusions," said Gianluigi Frozzi, Angelini Pharmaceutical Division's Chief Executive Officer. "The agreement is part of the Angelini effort in the field of treatment of infectious diseases. Once approved in the EU, our experienced sales force and extensive network will bring dalbavancin to over 30 countries."
I was wondering where you've been all this time, so I checked to see your posting history. You sure are over-zealous in your enthusiasm for ACRX ... where were you before 7/23? Now, you virtually eat, sleep and breath ACRX? I smell a rat!!
golong, I totally agree. This is/will be a huge gift going forward. FDA approved ... no brainer! Only reason this has happened is speculation of the secondary and the low float. I'm gonna make some lemonade out of these lemons!!!
Have you ever read The Hot Zone? Written over 20 years ago about a true story involving lab monkeys in Restin, VA and discovering they carried the Ebola virus. Very scary stuff, and I can't believe it hasn't taken hold sooner! Just think of all the people traveling by plane from Africa ... even if they screen, there's an incubation period. Now, THERE's a warm fuzzy thought to start the morning! Sorry!!
Well, I'll sure give you that you're consistent, Annie! GL with your newest shares!!
Yes, I'm sure you are a trading god!! Certainly profits to be made buying dips and selling rips! My point is, THIS is a dip! You will pay north of 30% STCG while those holding for long term profits will not only pay less taxes, but will, more than likely, still be in INO at much higher levels. There are ALL kinds of strategies ... yours is tripping over dollars to make pennies!
Capitulation? Einhorn sold more than 20% ago.!
Starting a position after watching from sidelines!
Yes, those "naked" little gremlins are working their 100 share magic today!
Can't imagine why the SEC would want to, or see the need, to reinstate the uptick rule to put some of this to rest. Nah ... it's an equal playing field!!
This was NOT a rejection ... pls try to keep up! And, it was the delivery device, not the drug!!
Between margin calls and people who don't want to wait, you are seeing the pressure on the pps.
"Hit me, baby, one more time"!!!
Getting ready to deploy some capital ...
Exactly what happened to her ... and the top liver transplant doc at the U of M now says they are not sure exactly how it can be contracted, once you rule out tattooing, I.V. drugs ... he claims if it was sexually transmitted, he thinks the incidence of it would be higher. Hers has led to liver cancer and severe Cirrhosis. Terrible disease!! Although, he also claimed that they believe the rate of infection has peaked. She will start on Gilead's new drug next week to at least eradicate the virus while she waits for transplant.
I got tested almost immediately thereafter.
And, the CDC is recommending people be tested for Hep C, particularly baby boom generation. My sister was recently diagnosed with it after being diagnosed with liver failure. Apparently, the U of M experts say it has been in her system silently killing her for nearly 20 years. Very scary stuff!! She was never even ill until it put her in the ER.