Finance

U.S. FDA approval of FOSRENOL triggers US$18 million payment

Published in Blood Weekly, November 25th, 2004

AnorMED, Inc., (AOM) will receive a US$18 million milestone payment from Shire Pharmaceuticals Group, plc, based on approval by the U.S. Food and Drug Administration (FDA) of FOSRENOL as a treatment for high phosphate levels in the blood, which occurs in patients undergoing dialysis as a result of chronic kidney failure.

"It's gratifying that our strategy to monetize FOSRENOL, that culminated earlier this year in our agreement with Shire, will strengthen our cash position as we head towards pivotal trials for AMD3100 in stem-cell transplant for cancer patients," said Dr. Michael Abrams, AnorMED's president and CEO.

In March 2004, AnorMED sold the...

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Source: Blood Weekly (2004-11-25)

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