3. Shire and Renovo

Who: Shire
With: Renovo
What: $875 million

Summary: Shire forked over $75 million up front along with a $50 million equity payment to Renovo as part of an $875 million deal for the exclusive development and commercialization rights to Juvista, a scarring drug. The deal includes $700 million in scheduled milestone payments. The drug is intended for use after surgery and cosmetic procedures as well as for burn victims. If it survives the approval process, analysts speculate that Justiva garner a whopping $4 billion a year in the U.S. market alone. The therapy is in development and could be approved in 2011. The partnership covers countries outside of the EU. Release

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