PharmaMar receives US$10 million milestone payment from Janssen for Yondelis®

The Company entered into a new licensing agreement in August 2019 for the marketing and distribution of Yondelis® in the USA. PharmaMar Group (MSE: PHM) has received a payment of $10 million from Janssen Products, LP, a Johnson & Johnson company, after reaching a commercial milestone for Yondelis® (trabectedin) in the United States as defined in the licensing agreement. In August 2019, PharmaMar entered into a new licensing agreement with Johnson & Johnson, which replaced a 2001 licensing agreement, under which Johnson & Johnson retained the right to sell and distribute, on an exclusive basis, trabectedin in the USA. Today, trabectedin is approved in more than 70 countries for the treatment of Soft Tissue Sarcoma and in some of these countries for ovarian cancer as well.

The release as fetched from its publisher. pharmamar.com ↗