ALK-Abello A/S and Schering-Plough sign strategic alliance

Nordic Business Report, Jan 3, 2007

NORDIC BUSINESS REPORT-3 January 2007-ALK-Abello A/S and Schering-Plough sign strategic alliance(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Danish pharmaceuticals developer ALK-Abello A/S said on Wednesday (3 January) that it has entered into a strategic alliance with Schering-Plough (NYSE: SGP) to commercialise its tablet-based immunotherapy products for the North American market.

The agreement covers ALK-Abello's products against grass pollen allergy, house dust mite allergy and ragweed allergy.

Under the agreement Schering-Plough will receive exclusive licence rights to develop, market and distribute the tablet-based immunotherapies in exchange for an up-front payment of USD35m and milestone payments of up to USD255m, and royalties on realised sales.

The costs of clinical development, registration, marketing and sales will be paid by Schering-Plough. The tablets will be produced and supplied by ALK-Abello.

ALK-Abello, headquartered in Horsholm in Denmark, focuses on the development pharmaceutical products targeting allergic diseases. The company has 1,300 employees worldwide. ALK-Abello is listed on the Nordic Exchange in Copenhagen.

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