Janssen Pharmaceutica Announces Collaboration with Vertex Pharmaceuticals to Dev

[Upbeat]

NEW BRUNSWICK, N.J., June 30 /PRNewswire-FirstCall/ -- Johnson & Johnson JNJ announced today that Janssen Pharmaceutica N.V., a Johnson & Johnson company, has entered into a collaboration with Vertex Pharmaceuticals Incorporated VRTX to develop and commercialize Vertex's investigational hepatitis C virus (HCV) protease inhibitor, VX-950. Under the agreement, Janssen will have exclusive rights in Europe, South America, the Middle East, Africa and Australia. Vertex will retain exclusive commercial rights to VX-950 in North America. Tibotec Pharmaceuticals, Ltd., another Johnson & Johnson company, will lead the development and commercialization of VX-950 for Janssen.

Terms of the Agreement

Terms of the transaction include a before-tax upfront payment of $165 million, which will be expensed in the second quarter. In addition, there will be additional payments contingent upon successful development, approval and launch of VX-950 in the regions where Janssen has commercial rights and reimbursement of certain drug development costs. The agreement also includes a royalty on product sales in Europe, South America, the Middle East, Africa and Australia.

The Company anticipates that the $165 million payment will largely be offset by other non-recurring gains recognized over the balance of the year. Therefore, this transaction is not expected to impact full year guidance.
                                                      Ron

[Dale_Ray]

Sounds like if they are investing those dollars then we can assume that they have researched it and they are getting the warm fuzzies about its success and potential. Good post the information is always appreciated. Dale

[bobbyullc]

yes thanks,
if mine tx fails i will wait several years. all the info on vertex and the other 2 major companies along these line have been optimistic.
bobby

[FlGuy]

All they need to do now is come up with some svr data to validate the stuff works.

[MissMiss]

Several Deaths Reported After People Used Antibiotic

http://www.wral.com/health/9452032/detail.html

Several of us have been on antibiotics lately and this may prove useful.  The report says something about Hepatitus showing up after taking the drug.  

Food for thought.

miss

[Dale_Ray]

It does seem that all I have seen is press releases so far and announcements of proposed dates for trial test.

[doglover28]

Hi Missmiss,

Hope you don't mind my asking, but are you from NC by anychance?  WRAL is the local news station for me.

Pam

[MissMiss]

A friend sent me the url to the story and I thought it worth mentioning here.

I am in WA, where we get a lot of snow.  Today, at around 90, I am wishing for some now!  Oooops!  Thought I would never say that, lol!

miss

[Pdilly]

I hope this really comes together.   We need this out now not later.