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September, 2006 Pragati Maidan, New Delhi, India |
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Novartis Says Buys Intercell Encephalitis Drug
Swiss drugmaker Novartis has bought the rights to market IC51, a late-stage drug for the prevention of Japanese Encephalitis virus infections from Austrian biotech firm Intercell .
Novartis will make an equity investment in Intercell of up to 30 million euros ($37.86 million), it said, giving it the first negotiation rights to certain exisiting product candidates with Intercell technology.
It will make milestone payments for IC51 to Intercell.
Date: 15-Jun-2006
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