Spectrum Pharmaceuticals recently announced it has entered into an agreement to acquire licensing rights to market ZEVALIN (ibritumomab tiuxetan) injection for intravenous use outside the US from Bayer Healthcare. ZEVALIN is currently approved in more than 40 countries outside the US for the treatment of follicular B-cell non-Hodgkin’s lymphoma, including countries in Europe, Latin America, and Asia. Under the agreement, Spectrum will have all rights related to marketing, sales, and patents, and access to existing inventory of ZEVALIN from Bayer. Spectrum will utilize a combination of company resources and partnerships to support the product outside the US.
“We are excited to expand our commercial footprint globally with an approved, state-of-the-art drug that we know very well,” said Rajesh C. Shrotriya, MD, Chairman, CEO, and President of Spectrum Pharmaceuticals. “Our experience in the US marketplace and the impressive and broadening clinical outcome data from ZEVALIN, as presented at major international scientific conferences over the past 2 years, has increased our confidence in the long-term potential of ZEVALIN. With the licensing of ex-US, worldwide rights to ZEVALIN, we will be able to further leverage our existing clinical, regulatory, and marketing investments. Working closely with European investigators who have spearheaded exciting new data with ZEVALIN in recent years, Spectrum will continue to advance its clinical development program and will now be better positioned to grow ZEVALIN sales globally in the long-term. Our access to the worldwide market will help patients with follicular lymphoma who can benefit from ZEVALIN.”
“The global market for ZEVALIN is several times larger than the US, with more than 350,000 cases of non-Hodgkin’s lymphoma diagnosed every year. Since acquiring the US rights to ZEVALIN in 2008, we have successfully reversed the declining sales trajectory and nearly tripled 2008 sales. We hope to achieve similar milestones outside the US with our focused sales and marketing efforts. This licensing transaction demonstrates our commitment to being focused on our strategy of bringing novel cancer treatments to patients while at the same time delivering value to our shareholders,” concluded Dr. Shrotriya.
Spectrum Pharmaceuticals, a biotechnology company with a primary focus in oncology and hematology, currently markets two oncology drugs, FUSILEV and ZEVALIN. In addition, Spectrum has two drugs, apaziquone and belinostat, in late-stage development with a goal of filing NDAs with the US FDA in 2012. The company also has a diversified pipeline of novel drug candidates. The company’s strategy is composed of acquiring, developing, and commercializing a broad and diverse pipeline of late-stage clinical and commercial drug products. Spectrum has aggressive business development and commercial operation teams that support a robust drug development program encompassing clinical development, medical research, regulatory affairs, biostatistics, and data management.
