Durata sub out-licenses dalbavancin

Durata Therapeutics (DRTX +1.8%) subsidiary Durata Therapeutics International B.V. enters into a license and supply agreement with Angelini to commercialize dalbavancin in 36 countries, including Russia, Italy, Spain and Poland.

Under the terms of the agreement, Durata will receive an upfront payment of $15M and another payment of $10M upon EMA approval. It will also be eligible for milestone payments and royalties on sales.

The MAA for dalbavancin is currently under EMA review. A decision is expected in 1H 2015.

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