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Novartis has acquired the remaining rights to ofatumumab, a monoclonal antibody under development for the treatment of multiple sclerosis and other autoimmune diseases, from GlaxoSmithKline. Novartis previously acquired the rights to ofatumumab for oncology and currently markets it under the name Arzerra. Under the new deal, Novartis will pay GSK $300 million up front and $200 million more following the start of Phase III trials in multiple sclerosis. GSK is eligible for an additional $534 million in milestone payments as well as royalties on commercialized drugs.
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