Myriad Genetics pencils in $350M deal for Flurizan

Myriad Genetics has landed a key partnership for its late-stage Alzheimer's therapy. H. Lundbeck has agreed to pay $100 million in an upfront fee along with $250 million in milestones for the European rights to Flurizan. The pact includes escalating royalties on sales. Myriad will hand a sublicense royalty check to Encore Pharmaceuticals.

Myriad is still looking for a co-promotion deal in the U.S. for Flurizan, planning to tackle the specialty market itself while a major pharma company markets the drug to the primary care crowd. The developer is also seeking a deal for Japan and the Pacific Rim that's more in line with the pact now forged for Europe.

One Phase III trial for Flurizan has already been completed with data expected in June. A second late-stage trial is underway and should be wrapped at the end of this year.

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