Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON From Enzon Pharmaceuticals, Inc.
Drug Royalty LP 2 (DRC) announced the purchase of 25% of Enzon Pharmaceuticals, Inc.'s (ENZN) worldwide royalty interest in PEG-INTRON for $92.5M. DRC will also provide a $15M milestone payment in 2012 should certain royalty recognition levels be met. PEG-INTRON (peginterferon alpha-2b), is approved for the treatment of hepatitis C and is marketed worldwide by Schering-Plough Corporation (SGP).
PEG-INTRON is a PEG-enhanced version of Schering-Plough's alpha interferon product, INTRON(R) A, which is used both as a monotherapy and in combination with REBETOL(R) (ribavirin) capsules for the treatment of chronic hepatitis C. Under Enzon's license agreement with Schering-Plough, Schering-Plough holds an exclusive worldwide license to PEG-INTRON, and Enzon receives royalties on worldwide sales of PEG-INTRON. Schering-Plough is responsible for all manufacturing, marketing, and development activities for PEG-INTRON. Enzon designed PEG-INTRON to allow for less frequent dosing and to yield greater efficacy, as compared to INTRON A. PEG-INTRON is marketed worldwide by Schering-Plough and its affiliates.
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