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Human Genome Sciences gets 40 mln usd Albuferon milestone payment from Novartis
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08.28.07, 8:24 AM ET
LONDON (Thomson Financial) - Human Genome Sciences Inc said it will receive a 40 mln usd payment from Novartis AG in September for the previously reported successful completion of a Phase 2b trial of Albuferon in patients with chronic hepatitis C.
A Human Genome Science spokesman noted that the latest payment brings the total milestone payments received from Novartis (nyse: NVS - news - people ) under their co-development and commercialisation agreement to 132.5 mln usd.
HGS also reported in a separate press release that it has completed enrolment ahead of schedule in the first of two pivotal Phase 3 trials of Albuferon in chronic hepatitis C, and now expects to have Phase 3 data available by the spring of 2009, with filing of global marketing authorization applications anticipated by the fall of 2009.
Under a co-development and commercialisation agreement entered into in June 2006, HGS and Novartis will co-commercialise Albuferon in the US and will share clinical development costs, US commercialisation costs and profits equally.
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