(RTTNews) - Sanofi-Aventis announced that it has signed an agreement with Japan's Taiho Pharmaceutical Co. Ltd. for the rights to develop and market an oral, pyrimidine fluoride derived anticancer agent, S-1, a proprietary product.
The Paris-based Sanofi-Aventis said that it will pay Taiho about US$360 million upfront and milestone payments upon this oral anticancer agent S-1.
As per the deal, Sanofi-Aventis will lead and fund the development and commercialization of the product worldwide, except in Japan and in certain Asian countries.
The oral anticancer agent S-1 is currently in Phase III stage in Europe, US and other countries.
S-1 has been prescribed and marketed in Japan since 1999 for the treatment of gastric cancer, colorectal cancer, head and neck cancer, non-small cell lung cancer, inoperable or recurrent breast cancer.
SNY closed Monday's trading session at $49.23, up 53 cents or 1.09%.
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