Ipsen agrees to purchase Merrimack Pharmaceuticals’ oncology assets

Ipsen has announced the acquisition of a portfolio of oncology assets from Merrimack Pharmaceuticals for an initial $575 million (477.17 million pounds).

The deal will give Ipsen exclusive commercialisation rights for current and potential future indications of the cancer drug Onivyde in the US, while it will also assume control over licensing agreements with Shire for commercialisation rights outside the US and with PharmaEngine for Taiwan.

Ipsen will take over responsibility for advancing the ongoing Onivyde clinical development programme, which includes a phase II trial in first-line previously untreated metastatic pancreatic cancer, a phase II/III trial in relapsed small-cell lung cancer, and a phase I pilot trial in breast cancer.

Merrimack's generic doxorubicin HCl liposome injection product and commercial and manufacturing infrastructure will also be included in the deal, which will include payments of up to $450 million based on future approvals of Onivyde, in addition to the initial $575 million fee.

David Meek, chief executive officer of Ipsen, said: "The acquisition of Onivyde represents a compelling strategic opportunity to further strengthen Ipsen's oncology portfolio while leveraging our US infrastructure and creating meaningful potential incremental growth and profitability."

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