July 19, 2018 / 6:29 AM / a month ago

Novartis to pay 95 million euros to Galapagos, MorphoSys for skin drug

ZURICH (Reuters) - Novartis said on Thursday it will pay 95 million euros ($110.49 million) to Galapagos and MorphoSys to license a prospective medicine targeting the skin condition atopic dermatitis, as the Swiss drugmaker strengthens its foothold in immunology.

FILE PHOTO: Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann/File Photo

Novartis, which said the deal includes additional payments, royalties and fees pending the achievement of milestones, already has a blockbuster drug, Cosentyx, in immunology with accelerating sales in psoriasis and ankylosing spondolitis.

Reporting by John Miller; Editing by Jan Harvey

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