Novartis Returns OUS Rights for Jetrea to ThromboGenics

September 22, 2017: By Jon Swedien

April 2014 OMP ThromboGenics’ JetreaThromboGenics regained full global rights to Jetrea after reaching an agreement with Novartis, whose subsidiary, Alcon, had held the rights outside the US (OUS), ThromboGenics announced Sept. 18.

Jetrea (ocriplasmin), launched in January 2013, is a one-time, single intravitreal injection to treat adults with symptomatic vitreomacular adhesion.

In 2012, ThromboGenics struck an agreement with Novartis to license Jetrea’s OUS rights to Alcon.

Under that agreement, ThromboGenics received an upfront payment of €75 million ($97.9 million, conversion March 16, 2012) and was eligible to receive up to €300 million ($391.5 million, conversion March 16, 2012) more in potential milestone payments.

Under the new agreement, Novartis will pay ThromboGenics €53.7 million ($64.1 million, conversion Sept. 18, 2017) in cash and make a forthcoming equity investment of €10 million ($11.1 million, conversion Sept. 18, 2017) in ThromboGenics capital, ThromboGenics said.

Following the agreement, ThromboGenics will have more than €120 million in cash, the Belgium firm said.

The agreement stipulates Alcon and Novartis will work closely with ThromboGenics to ensure continuity and access to Jetrea for existing and future customers, ThromboGenics said.

In March 2017, ThromboGenics announced it would take an impairment charge of €26.6 million to align its Jetrea goodwill value with continued lower-than-expected sales.

Novartis took an impairment charge of $119 million on Jetrea in 2015.

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