PDL BioPharma Completes Royalty Transaction with ARIAD Pharmaceuticals
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July 29, 2015 7:39 AM EDT
ARIAD Pharma (Nasdaq: ARIA) announced that it will receive $100 million in cash $50 million upon deal execution late yesterday and an additional $50 million in one year through a synthetic-royalty financing from PDL BioPharma, Inc. (Nasdaq: PDLI) in exchange for paying PDL a mid-single-digit royalty on future sales of Iclusig (ponatinib) until PDL receives a fixed internal rate of return (IRR). ARIAD also has an option, in its discretion, to receive up to an additional $100 million at any time between 6 and 12 months from the date of the agreement,... More
July 29, 2015 7:39 AM EDT
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced that it will receive $100 million in cash $50 million upon deal execution late yesterday and an additional $50 million in one year through a synthetic-royalty financing from PDL BioPharma, Inc. (NASDAQ: PDLI) in exchange for paying PDL a mid-single-digit royalty on future sales of Iclusig® (ponatinib) until PDL receives a fixed internal rate of return (IRR). ARIAD also has an option, in its discretion, to receive... More
