Kadmon, Valeant Pharmaceuticals deal

Valeant granted the Kadmon Pharmaceuticals LLC unit of Kadmon Corp. LLC an exclusive, worldwide license, excluding Japan, to develop and commercialize taribavirin to treat viral diseases. Valient will receive an upfront payment of $5 million and is eligible to receive undisclosed milestone payments, plus 8-12% royalties on sales. Merck & Co. Inc. (NYSE:MRK, Whitehouse, Station) has an option to license Japanese rights to the nucleoside analog structurally related to ribavirin, which has completed Phase IIb testing for HCV (see BioCentury, June 8, 2009 & Nov. 16, 2009). ...