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Eli Lilly & Company
Drug Names(s): troxacitabine
Description: Troxatyl (Troxacitabine) is a DNA synthesis inhibitor. It is a member of a novel class of nucleoside analogues discovered by BioChem Pharma and is the first example of a synthetic L-nucleoside analogue to have shown anticancer activity in animal models.
Deal Structure: Developed by BioChem, Troxatyl became part of the Shire pipeline after the December 2000 merger between Shire Pharmaceuticals and BioChem.
In July 2004, SGX and Shire announced that SGX had acquired worldwide rights from Shire to Troxatyl. Under the terms of the agreement, SGX made an upfront payment, and will make milestone payments based on successful development and approval of Troxatyl and will also make royalty payments based on net sales.
In July 2008, Eli Lilly and SGX Pharmaceuticals announced that the companies have signed a definitive merger agreement providing for the acquisition of SGX in an all-cash transaction. Under the terms of the agreement, Lilly will acquire all of the outstanding shares of SGX common stock at a price of $3.00 per share, for a total purchase price of approximately $64.0 million.
In August 2008, Eli Lilly completed its acquisition of SGX Pharmaceuticals.
Pink Sheet BioChem Troxatyl
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