Janssen Pharmaceutica Announces Collaboration with Vertex Pharmaceuticals to Develop and Commercialize VX-950 for Treatment of Hepatitis C.

Publication: PR Newswire

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- Janssen Obtains Exclusive Rights in Europe and Other Regions -

NEW BRUNSWICK, N.J., June 30 /PRNewswire-FirstCall/ -- Johnson & Johnson announced today that Janssen Pharmaceutica N.V., a Johnson & Johnson company, has entered into a collaboration with Vertex Pharmaceuticals Incorporated to develop and commercialize Vertex's investigational hepatitis C virus (HCV) protease inhibitor, VX-950. Under the agreement, Janssen will have exclusive rights in Europe, South America, the Middle East, Africa and Australia. Vertex will retain exclusive commercial rights to VX-950 in North America. Tibotec Pharmaceuticals, Ltd., another Johnson & Johnson company, will lead the development and commercialization of VX-950 for Janssen.

Terms of the Agreement

Terms of the transaction include a before-tax upfront payment of $165 million, which will be expensed in...

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