SAN FRANCISCO, Oct. 22 /PRNewswire-FirstCall/ -- Medivation, Inc. (Nasdaq: MDVN) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its collaboration with Pfizer Inc. expired on October 20, 2008. Under the collaboration, Medivation and Pfizer have agreed to jointly develop and commercialize Dimebon for the treatment of Alzheimer's disease and Huntington's disease. Expiration of the waiting period triggers an up-front payment to Medivation of $225 million.
Under the terms of the collaboration agreement with Pfizer, Medivation also is eligible to receive payments of up to $500 million upon the attainment of development and regulatory milestones plus additional undisclosed commercial milestone payments. Medivation and Pfizer will collaborate on the Phase 3 program in Alzheimer's disease, Huntington's disease development and regulatory filings in the United States. The companies will share all U.S. development and commercialization expenses along with U.S. profits/losses on a 60 percent/40 percent basis, with Pfizer assuming the larger share of both expenses and profit/losses. In addition, Medivation will co-promote Dimebon to specialty physicians in the U.S. Pfizer will have responsibility for development, regulatory and commercialization outside the U.S. and will pay Medivation tiered royalties on commercial sales outside of the U.S.
Results from the first pivotal trial of Dimebon in Alzheimer's disease
showed that patients treated with Dimebon experienced statistically
significant improvements compared to placebo in key aspects of the disease
-- memory and thinking, activities of daily living, behavior and overall
function. Dimebon's benefit over placebo con
|SOURCE Medivation, Inc.|
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