Drugmaker
Bristol-Myers Squibb Co. and Swedish drug developer Medivir
AB said Wednesday they entered a collaboration to
develop and sell a new HIV treatment.
Under the
agreement, Princeton, N.J.-based Bristol-Myers will
pay Medivir $7.5 million up front to help develop
Medivir's MIV-170 drug candidate. Medivir could also
receive up to $97 million in milestone payments and
additional royalties on sales of the treatment if it makes
it to market.
Bristol-Myers
would get all world rights to MIV-170 except for rights in
Medivir's Nordic region. (AP)
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