GTC Biotherapeutics (GTCB) Regains US Rights to ATryn(R); the First Recombinant Antithrombin Product Approved in the World
7/16/2010 9:15:15 AM
FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. ("GTC", OTCBB: GTCB.OB) announced today that it has signed a definitive agreement whereby the Company has regained US commercialization rights to ATryn from Lundbeck, Inc., a wholly owned subsidiary of H. Lundbeck A/S in Denmark (Copenhagen Stock Exchange: LUN). The two companies have agreed to a defined transition period of up to six months wherein Lundbeck will perform certain services on behalf of GTC in order to ensure that ATryn will continue to be available to physicians and their patients in an uninterrupted fashion as commercialization responsibilities are smoothly transitioned to GTC. Thereafter, Lundbeck will earn a royalty on net sales beginning in two years, with a predefined cumulative maximum.
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