Questcor, Novartis sales and marketing update

Questcor acquired exclusive, worldwide rights, outside of 13 EU countries, to develop and commercialize Synacthen tetracosactrin and its extended-release formulation Synacthen Depot from Novartis. Questcor paid Novartis $60 million up front and will pay the pharma at least $75 million in three annual cash payments of $25 million. Novartis is also eligible for milestone payments prior to FDA approval and upon FDA approval, plus royalties. Total payments to Novartis under the deal will be $135-$300 million. ...