Clinigen Group, Theravance sales and marketing update

Theravance granted Clinigen exclusive rights to commercialize Vibativ telavancin in the EU and other undisclosed European countries, including Switzerland and Norway. Theravance will receive $5 million up front, and is eligible for tiered royalties of 20-30%. In May 2012, the European Commission suspended marketing authorization for the product because the drug's Ben Venue Laboratories Inc. manufacturing facility did not meet cGMP requirements. Theravance said it is "working on re-establishing consistent product supply that will meet [EC] requirements." Clinigen could not be reached for details. ...