Biogen Idec, Swedish Orphan Biovitrum amend deal

Biogen Idec Inc. (NASDAQ:BIIB) and Swedish Orphan Biovitrum (SSE:BVT) amended a 2006 hemophilia deal. Biogen Idec will now be responsible for all development and costs for its recombinant Factor VIII and Factor IX Fc fusion proteins, which are in Phase I/II testing for hemophilia A and in Phase II/III testing for hemophilia B, respectively. Previously, the companies had shared costs for the programs.

Biogen Idec will expand its commercialization rights, which already cover North America, to include all areas outside Europe, Russia, Turkey and the Middle East, where Swedish Orphan Biovitrum retains rights. Previously, the companies shared commercialization rights outside North America and Swedish Orphan Biovitrum's territories. The partners said the cross-royalty rate for both companies has been reduced, and the royalty rates will be further adjusted until Biogen Idec's increased costs are reimbursed. ...