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Celgene Corporation

Drug Names(s): lepirudin ([DNA for injection] for injection

Deal Structure: In May 2002, Pharmion obtained the exclusive rights from Schering AG to distribute Refludan in all countries outside of North America. Schering produces the product for Pharmion under contract with a third-party manufacturer and sells it to Pharmion at its acquisition cost plus 5%. Pharmion's agreements with Schering, as amended, transfer to Pharmion all of the marketing authorizations and product registrations for Refludan outside the US and Canada.

Pharmion has paid Schering an aggregate of $9.0 million (as of the end of 2004) and is obligated to make an aggregate of $4.0 million of additional fixed payments to Schering, payable in quarterly installments of $1.0 million through the end of 2005. Pharmion is obligated to make up to $7.5 million of additional payments upon the achievement of certain milestones. Pharmion paid to Schering, in addition to its product acquisition costs, a royalty of 8% of its net sales of Refludan during the period through December 31, 2003 and now...See full deal structure in Biomedtracker

Partners: Bayer AG

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