 "Aralez acquires US and Canadian rights to Zontivity from Merck")
Aralez Pharmaceuticals Inc has acquired the US and Canadian rights to Zontivity (vorapaxar) from Merck & Co, known as MSD outside the US and Canada, following an asset purchase agreement signed by the two companies.
Zontivity is the first and only approved therapy shown to inhibit the protease-activated receptor-1 (PAR-1), the primary receptor for thrombin, which is considered to be the most potent activator of platelets. In the US, Zontivity is indicated for the reduction of thrombotic cardiovascular events in patients with a history of heart attack (myocardial infarction) or in patients with narrowing of leg arteries, called peripheral arterial disease (PAD), and should be used in combination with daily aspirin and/or clopidogrel according to their indications or standard of care. In Canada, Zontivity (vorapaxar sulfate) co-administered with aspirin with or without clopidogrel, according to their standard of care, is indicated for the reduction of atherothrombotic events in adult high-risk patients with a history of myocardial infarction (MI).
The asset purchase agreement included an initial upfront payment of $25 million, which was paid from cash on hand. The transaction also includes graduated royalties and potential added future consideration in the form of payments for achieving certain aggregate annual sales-based milestones.
In addition to the asset purchase agreement, the parties simultaneously entered into a supply agreement, a license agreement with respect to trademarks and certain proprietary know-how and a transition services agreement. Under the terms of the transition services agreement, Merck will continue to distribute the product on behalf of Aralez for up to twelve months while the product rights, packaging and labelling and other responsibilities are transferred to Aralez Pharmaceuticals Trading DAC, a subsidiary of Aralez, based in Ireland.
Zontivity is the first and only approved therapy shown to inhibit the protease-activated receptor-1 (PAR-1), the primary receptor for thrombin, which is considered to be the most potent activator of platelets. In the US, Zontivity is indicated for the reduction of thrombotic cardiovascular events in patients with a history of heart attack (myocardial infarction) or in patients with narrowing of leg arteries, called peripheral arterial disease (PAD), and should be used in combination with daily aspirin and/or clopidogrel according to their indications or standard of care. In Canada, Zontivity (vorapaxar sulfate) co-administered with aspirin with or without clopidogrel, according to their standard of care, is indicated for the reduction of atherothrombotic events in adult high-risk patients with a history of myocardial infarction (MI).
The asset purchase agreement included an initial upfront payment of $25 million, which was paid from cash on hand. The transaction also includes graduated royalties and potential added future consideration in the form of payments for achieving certain aggregate annual sales-based milestones.
In addition to the asset purchase agreement, the parties simultaneously entered into a supply agreement, a license agreement with respect to trademarks and certain proprietary know-how and a transition services agreement. Under the terms of the transition services agreement, Merck will continue to distribute the product on behalf of Aralez for up to twelve months while the product rights, packaging and labelling and other responsibilities are transferred to Aralez Pharmaceuticals Trading DAC, a subsidiary of Aralez, based in Ireland.
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