Business Services Industry
New Haven, Conn., pharmaceuticals firm unveils $110 million deal.
Knight Ridder/Tribune Business News, November, 2004
By Maria Garriga, New Haven Register, Conn. Knight Ridder/Tribune Business News
Nov. 30--NEW HAVEN, Conn. -- Achillion Pharmaceuticals announced a deal Monday potentially worth more than $110 million related to a drug compound designed to fight the hepatitis C virus.
Gilead Sciences of Foster City, Calif., will gain the right to research, develop and commercialize compounds developed by Achillion for the treatment of hepatitis C infection.
Gilead will pay Achillion $10 million up front -- $5 million in cash as an initial licensing fee and $5 million in an Achillion stock purchase.
Gilead has agreed to pay Achillion potentially more than $100 million more upon achieving certain development, regulatory and commercial milestones....
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