CV Therapeutics (CVTX) to Receive $185 Million From TPG-Axon Capital for Half of Royalty for Lexiscan Injection
More News related to CVTX
- Spring Brings 'Green Shoots' For Stocks
- Notable Mergers and Acquisitions of the Day 3/16: BCS, CVTX, BAM
- Astellas Pharma Terminates $16/Sh Offer for CV Therapeutics (CVTX), Clearing Way For Gilead
- Top 10 News Items 3/9-3/13: Stock Stage 4-Day Win Streak; Bank CEOs Make Upbeat Comments (C, JPM, BAC); GE (GE) Gets Rating Cut
- Unusual 11 Mid-Day Movers 3/12: BRNC, CVTX, SEH, MW Higher; MTG, PDII, NP, STLD Lower
More News related to Corporate News
- Radian (RDN) Shares Rallying as CFO Says Nov. Delinquencies Were Less Than Expected
- Highlights From Staples' (SPLS) Q3 Conference Call: Corporate Express Integration on Track; Positive Consumer Traffic
- McGraw-Hill (MHP) Completes Sale of BusinessWeek to Bloomberg L.P.; To Recognize $9.3M Pre-Tax Gain
- Thomson Reuters (TRI) Completes Breakingviews Acquisition
- Dynegy (DYN) Completes LS Power Transaction; Provides Details
CV Therapeutics, Inc. (Nasdaq: CVTX) announced that TPG-Axon Capital has agreed to pay CV Therapeutics up to $185 million in exchange for rights to 50% of CV Therapeutics' royalty on North American sales of Lexiscan(TM) (regadenoson) injection. CV Therapeutics received $175 million on closing of the transaction and could receive a potential future milestone payment of $10 million.
The U.S. Food and Drug Administration (FDA) approved Lexiscan(TM) (regadenoson) injection, an A2A adenosine receptor agonist, for use as a pharmacologic stress agent in radionuclide myocardial perfusion imaging (MPI) in patients unable to undergo adequate exercise stress, on April 10, 2008.
CV Therapeutics retains rights to the other 50 percent of royalty revenue from North American sales of the product, and also may receive a royalty on another Astellas product under the terms of the company's collaboration agreement with Astellas Pharma US, Inc.[SM]
Related Categories
Corporate NewsStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
