Issue Date: June 4, 2007
Schering-Plough In Cancer Drug Deal
Schering-Plough has licensed the prostate cancer treatment Asentar from the South San Francisco-based biotech firm Novacea. Novacea is in the midst of a Phase III trial of Asentar, a high-dose oral form of the hormone calcitriol that works through the vitamin D receptor. Under the deal, Schering-Plough will pay Novacea $60 million up front, make a $25 million licensing payment, and buy $12 million of Novacea stock. Schering-Plough could pay up to $380 million more in milestone payments.
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