Mundipharma licenses Spectrum's NHL treatment, picks up Japan affiliate

Mundipharma International said it has licensed Spectrum Pharmaceuticals' ($SPPI) non-Hodgkin's lymphoma (NHL) treatment Zevalin for a broad swath of the Asia-Pacific region as well as Latin America, the Middle East, Africa and Israel, according to a statement. Spectrum is set to receive an upfront payment of $15 million for the deal as well as $5 million in profits, and the company will continue to own the rights to the drug in the United States, Canada and in Europe. Mundipharma will also acquire Spectrum Pharmaceuticals GK, which is that company's Japanese affiliate, according to the statement. The "divestiture," according to Spectrum's chairman and CEO, Rajesh Shrotriya, "is consistent with Spectrum's strategy of focusing on our late-state pipeline and increasing our operational effectiveness" and allows the company to concentrate on potential drugs for "blockbuster markets." The deal, he added, will also allow Spectrum to lower its operating costs in nonstrategic markets. Zevalin (ibritumomab tiuxetan) is an injectable used in the treatment of patients "with relapsed or refractory, low-grade or follicular B-cell" NHL, Spectrum said. Release