Picking monogamy over playing the field

Triangle Pharmaceuticals Inc. now has a single partner - Abbott Laboratories - providing a worldwide marketing infrastructure for multiple products. The deal was the company's alternative to either having multiple partners cherry pick its portfolio or being acquired.

"They were very keen to have a piece of the company and we worked very hard to limit the piece they got," said Nick Ellis, president and COO. Abbott's $118.3 million investment for 17.5 percent of VIRS was made at market price, and the company also will receive $31.7 million in 1999 as payment for prior R&D costs, which Ellis said is