Abbott Laboratories and UK firm collaboration hits $1bn sales

The collaboration between Abbott Laboratories and UK firm Cambridge Antibody Technology (CAT) has resulted in $1.4 billion worth of sales.

The success of the rheumatoid arthritis treatment Humira means it is the first product from the UK biotechnology industry to achieve blockbuster status with sales over the billion mark.

CAT chief executive Peter Chambre said: “This is a major milestone for CAT. Humira is an important product candidate for CAT and we are delighted that it has reached blockbuster status.

“The success of Humira is vital to CAT’s progress as a product-based biopharmaceutical business and we look forward to further success in 2006 as Abbott continues to expand the range of approved indications.”

The deal between the two firms means Abbott owns exclusive worldwide rights to Humira and CAT receives royalty payments based on sales at the rate of 2.688 per cent.

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