Medivir completes transition of commercial products to fully focus on research and development
Stockholm, Sweden — Medivir AB (Nasdaq Stockholm: MVIR) today announces that it has come to agreement with Janssen to outlicense the commercial rights to the Nordics for simeprevir and future simeprevir containing products. In exchange Medivir will receive royalties on sales of all simeprevir containing products in the Nordics, as it already does in the rest of the world, and additional performance based milestones totaling up to approximately 6 MEUR based on certain sales targets for the Nordics of a combination product containing simeprevir.
Additionally, Medivir has returned the commercial rights to Adasuve in the Nordic region to Ferrer, the market authorization holder of that product.
Medivir net turnover generated from these products in the Nordics amounted to SEK 12.3m in 2016 and SEK 53.9m in 2015.
With the completion of these agreements, along with the previously announced sale of BioPhausia, Medivir will no longer have revenues associated with direct sales of pharmaceutical products, but will be fully focused on research and development activities.
For further information, please contact:
Ola Burmark, CFO Medivir AB, mobile: +46 (0) 725 480 580
Medivir is a research based pharmaceutical company with a focus on oncology. We have a leading competence within protease inhibitor design and nucleotide/nucleoside science and we are dedicated to develop innovative pharmaceuticals that meet great unmet medical need. Medivir’s class B share is listed on the Nasdaq Stockholm Mid Cap List.