Ipsen acquiring Merrimack's marketed products

Ipsen Group (Euronext:IPN; Pink:IPSE) is acquiring the commercial business of Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) for $575 million up front and up to $450 million in milestones. The deal includes U.S. rights to Onivyde irinotecan, as well as Merrimack’s generic doxorubicin product. The companies expect the deal to close this quarter.

Merrimack markets Onivyde to treat metastatic pancreatic cancer in patients who progressed following gemcitabine-based therapy. The drug’s clinical program includes a Phase II trial in previously untreated metastatic pancreatic cancer, a Phase II/III trial to treat relapsed small cell lung cancer (SCLC) and a Phase I pilot trial in breast cancer...