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AEterna Zentaris Inc Announces Transfer Of Manufacturing Rights Related To Cetrotide To Merck KGaA


Wednesday, 17 Apr 2013 07:30am EDT 

AEterna Zentaris Inc announced that its German subsidiary has entered into binding agreements with various partners and licensees with respect to the manufacturing rights and obligations for its Cetrotide product. The principal effect of such agreements is to transfer manufacturing rights and to grant a manufacturing license for Cetrotide to a subsidiary of Merck KGaA of Darmstadt, Germany (Merck Serono), in all jurisdictions. Subject to the satisfaction of customary closing conditions, the transaction is expected to be completed on or about October 1, 2013, at which time Aeterna Zentaris would receive a one-time payment of EUR2.5 million, or approximately $3.2 million and certain other payments. In addition, the Company has also entered into a transitional services agreement with Merck KGaA under which the Company will, during a 36-month period, provide various transition services to assist Merck KGaA in assuming responsibility for the manufacturing of Cetrotide in consideration for the payment of a monthly fee to the Company throughout such period. 

Company Quote

0.528
0.0025 +0.48%
25 Nov 2014