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Home Industry News Ipsen sells off shares in PregLem

Ipsen sells off shares in PregLem

12th October 2010

Ipsen has completed a deal to sell off all of its shares in the reproductive medicine specialist PregLem.

The pharmaceutical company – as well as all of PregLem's other shareholders – has agreed to divest its stake in the firm to Gedeon Richter, ending a three-year association with the business.

PregLem is currently developing two treatments acquired from Ipsen in 2007, the sulfatase inhibitor PGL1001 and the somatostatin analogue PGL2001, while its lead product Esmya has recently completed clinical testing.

Under the terms of the deal, Ipsen will receive an upfront payment of six million Swiss francs (3.9 million pounds), plus progressive additional payments based on the success of the products being developed by PregLem.

Christophe Thurieau, Ipsen's vice-president for scientific affairs and former director of PregLem, said: "This transaction validates our strategy to focus on our four targeted disease areas (oncology, endocrinology, neurology and haematology) while maximising the value of our research and development pipeline."

Last month, Ipsen announced that it will be collaborating with Santhera Pharmaceuticals to create a new treatment option for levodopa-induced dyskinesia among Parkinson's disease patients.ADNFCR-8000103-ID-800110872-ADNFCR

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