FDAnews Drug Daily Bulletin

EXELIXIS, BRISTOL-MYERS ENTER DRUG PACT

Dec. 7, 2005
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Drug developer Exelixis Inc. entered an agreement with drug maker Bristol-Myers Squibb Co., potentially worth more than $280 million, to develop a new class of cholesterol-lowering drugs.Under the agreement, Exelixis will receive an upfront payment of $17.5 million and $10 million per year for two years for research and development. The collaboration will focus on the activation of Liver X Receptors, which are hormone receptors that play a role in a wide variety of heart and metabolic disorders.
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