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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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