Home » ISIS PHARMACEUTICALS RECEIVES $7 MILLION FROM DRUG ROYALTY USA, INC.
ISIS PHARMACEUTICALS RECEIVES $7 MILLION FROM DRUG ROYALTY USA, INC.
Isis Pharmaceuticals, Inc. announced today it has received $7 million from Drug Royalty USA, Inc. (DRC) as partial payment for a portion of Isis' royalty rights in Macugen(R). In December 2004, Isis sold a portion of its royalty rights in Macugen to DRC in exchange for $24 million to be paid over three years. "Licensing our patents to Eyetech and then accelerating a portion of the value anticipated from our royalties on Macugen, demonstrate how we are capitalizing on the value of our extensive patent estate," said B. Lynne Parshall, Executive Vice President and Chief Financial Officer of Isis Pharmaceuticals.
PR Newswire (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-18-2005/0004171268&EDATE=)
KEYWORDS FDAnews Drug Daily Bulletin
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