Bayer HealthCare and Genzyme finalise strategic alliance agreement
02 June 2009
Bayer HealthCare and Genzyme Corporation today said that they had received regulatory approvals for the strategic alliance under which Bayer would license its haematological oncology products and transfer its current commercial portfolio of these products to Genzyme.
The two companies had annoounced the agreement on 31 March 2009.
Bayer said, "with these approvals, the legal closing of the transaction was completed on May 29, 2009."
In acordance with the terms of the agreement Genzyme will begin marketing and selling Campath / MabCampath (alemtuzumab), Fludara (fludarabine) and Leukine (sargramostim) as of today, in several countries.
Genzyme now has full responsibility for developing, marketing and selling the acquired oncology products and will record sales revenue in the United States and more than 90 other countries where they are sold. During a transition period following closing, Genzyme has contracted with Bayer to provide continuing services in certain countries to ensure no interruption in product supply to patients or support services to providers.
Under the agreement, Bayer will also return to Genzyme the worldwide distribution and development rights for alemtuzumab. The companies will also continue their co-development partnership for alemtuzumab in multiple sclerosis (MS) and should the drug be approved in this indication, Bayer and Genzyme will co-promote the drug worldwide. In addition, following FDA licensure, Genzyme will acquire from Bayer the new US Leukine manufacturing facility in Seattle, Washington.
Bayer will continue to produce Fludara as a contract manufacturer for Genzyme.
''This transaction provides greater long-term profitability for two of our most important franchises - MS and Oncology - and affirms our strong commitment to better serve patients and physicians in the MS community,'' said Gunnar Riemann, Member of Bayer HealthCare's Executive Committee.