AnorMED gets $3 million milestone payment for Fosrenol in Germany

By Elaine Rigoli

Tampa, Fla., Sept. 18 - AnorMED, Inc. said Monday that under the terms of an existing agreement, AnorMED will receive a $3 million milestone payment from Shire Pharmaceuticals Group plc based on the recent licensing approval received in Germany by Shire to sell Fosrenol as a treatment for high phosphate levels in the blood, which occurs in patients undergoing dialysis as a result of chronic kidney failure.

In March 2004, AnorMED sold the global patent rights for Fosrenol to Shire. Under the agreement, Shire agreed to pay AnorMED $18 million when Fosrenol was approved in the United States and $7 million when Fosrenol was approved in the relevant European countries.

This agreement was also extended to include a $6 million payment to AnorMED upon regulatory approval in Japan.

AnorMED is a Vancouver, B.C.-based biopharmaceutical company.

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