AnorMED says U.K. approval of Fosrenol triggers $3 million payment

By E. Janene Geiss

Philadelphia, Sept. 25 - AnorMED Inc. announced Monday it will receive a $3 million milestone payment from Shire Pharmaceuticals Group plc for the recent licensing approval in the United Kingdom of 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 the drug was approved in the relevant European countries, the Vancouver, B.C., biopharmaceutical company said in a news release.

This agreement also was extended to include a $6 million payment to AnorMED upon regulatory approval in Japan. In consideration of these payments, Shire's royalty obligations to AnorMED would cease throughout the world.

To date AnorMED has received $19 million for the U.S. and E.U. approvals. In addition to the $3 million payment announced last week for the German approval and the $3 million payment on U.K. approval, the company said it is eligible to receive an additional $6 million payment to AnorMED for approval in Japan.

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