Sarepta Shares Gain After Licensing Deal With Roche
December 23 2019 - 7:48AM
Dow Jones News
By Chris Wack
Sarepta Therapeutics Inc. (SRPT) shares rose 13% to $142.50 in
premarket trade Monday after the company said it entered a
licensing agreement to provide Roche (RO.EB) with exclusive
commercial rights to SRP-9001, Sarepta's investigational gene
therapy for Duchenne muscular dystrophy, outside the U.S.
Under the agreement, Sarepta will receive $1.15 billion in an
upfront payment and an equity investment; up to $1.7 billion in
regulatory and sales milestones; and royalties on net sales,
anticipated to be in the mid-teens, the company said.
Roche and Sarepta will equally share global development
expenses. Sarepta retains all rights to SRP-9001 in the U.S.
As part of the agreement, Sarepta will continue to be
responsible for the global development plan and manufacturing
buildout for SRP-9001. Sarepta has also granted Roche an option to
acquire ex-U.S. rights to certain future DMD-specific programs, in
exchange for separate milestone and royalty considerations, and
cost sharing.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 23, 2019 07:33 ET (12:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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