Allergan, Specturm ink $345.5M deal

Allergan and Spectrum Pharmaceuticals have signed a development and commercialization deal for apaziquone, an antineoplastic agent in Phase III testing for the treatment of non-muscle invasive bladder cancer by intravesical instillation. Spectrum gets $41.5 million up front and up to $304 million more milestone payments and retains rights to the drug in Asia. Allergan received exclusive rights to apaziquone for the treatment of bladder cancer in the rest of the world. Allergan and Spectrum will co-promote apaziquone in the U.S.

"The addition of apaziquone to our urologics pipeline portfolio reflects our further commitment to pursuing innovative treatments in specialty markets where there is a high unmet need and significant growth potential," said David Pyott, Chairman of the Board and CEO of Allergan

- see the release

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