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Home Industry News Cephalon and Alkermes end partnership

Cephalon and Alkermes end partnership

3rd December 2008

Cephalon and Alkermes have said they have ended their partnership on Vivitrol, an alcoholism drug.

The ending of the collaboration will leave Alkermes with full commercialisation rights, with Cephalon paying the company $11 million (7.45 million pounds) to cover expected losses on the product over the next year.

According to a joint statement from the two organisations, the decision followed a review by Cephalon and will see it paying $16 million for equipment to manufacture the product.

James Frates, chief financial officer of Alkermes, told Bloomberg: “We’re feeling very good about where we are today.”

“We’ve built a dedicated sales force with Cephalon and can hopefully not miss too much of a beat as we transition over.”

The company will take a pre-tax charge of $119.1 million to $119.8 million to end the agreement.

Last week, Cephalon and British-based ImmuPharma signed an option agreement.

The deal will see an exclusive and worldwide licence for the experimental Lupus drug Lupuzor – and is set to see the company paying $15 million (9.77 million pounds) to its partner.

Founded in 1987, Cephalon currently employs approximately 3,000 staff in the US and Europe, with headquarters in Frazer, Pennsylvania and Maisions-Alfort, France.

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