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Vertex forms collaboration with Johnson & Johnson companies to promote VX-950 for hepatitis C
By Lisa Kerner
Charlotte, N.C., June 30 - Vertex Pharmaceuticals Inc. said it is collaborating with Johnson & Johnson companies Janssen Pharmeceutica, NV and Tibotec Pharmaceuticals Ltd. to commercialize its hepatitis C virus (HCV) protease inhibitor VX-950 and to form health care initiatives related to the disease.
Under its agreement with Vertex, Janssen will have exclusive rights to VX-950 in Europe, South America, the Middle East, Africa and Australia.
Vertex will retain exclusive commercial rights to VX-950 in North America. In addition, the company will receive an upfront payment of $165 million and up to $380 million in milestone and royalty payments.
"Our vision for transforming hepatitis C therapy is closely aligned with that of Janssen and Tibotec, and we look forward to working with them to ensure VX-950's rapid advancement in Europe and other territories," Vertex president and chief executive officer Joshua Boger said in a company news release.
Tibotec will lead the development and commercialization of VX-950 for Janssen. The company has also established with Vertex a global health initiative to increase the prevention, diagnosis, treatment and cure of HCV infection in developing countries.
Vertex will financially support the new initiative, with Tibotec responsible for following regulatory approvals and commercialization of VX- 950.
Belgium-based Janssen provides integrated research and development, production and general services within the Johnson & Johnson group.
Tibotec is a pharmaceutical research and development company, based in Cork, Ireland.
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