Array, Pierre Fabre global commercialization agreement closes

 

Europe’s antitrust commission has OK’d Array BioPharma’s cancer drug development and commercialization agreement with Pierre Fabre, companies announced Monday.

Under the agreement, Pierre Fabre will gain the commercial rights to Array’s binimetinib and encorafenib in all countries except for the United States, Canada, Japan, Korea and Israel, where Array will retain its ownership rights.

Pierre Fabre will pay Array $30 million up-front in the deal that could be valued up to $425 million, if certain milestones are met.

 

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