CAMBRIDGE, Mass. (AP) — Genzyme Corp. said Tuesday it closed the licensing deal for commercialization rights to Bayer’s cancer drug Campath. The licensing agreement, announced in March, was part of a deal potentially worth $1.25 billion for Bayer and included two other treatments. The deal means that Genzyme will have primary responsibility for the development and sales of Campath as a multiple sclerosis drug, for which it its being studied. Bayer will continue to fund a portion of the drug’s development and retains co-promotion rights. If approved as a multiple sclerosis drug, Bayer will receive payments of up to $1.25 billion contingent on annual revenue from the drugs. The deal also included rights to the cancer drugs Fludara and Leukine. Under the deal, Genzyme will make no upfront payment but will make payments to Bayer following approval of Campath as a multiple sclerosis drug, based on product revenue. It will also make future payments based on revenue of Fludara and Leukine.
