July 19, 2018 / 6:29 AM / in 5 months

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

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

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.

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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