- Novartis' (NYSE:NVS +4.4%) announcement of positive late-stage results for canakinumab in reducing CV risk prompts Regeneron Pharmaceuticals (REGN +2.5%) to issue a statement clarifying its royalty rights to the candidate if approved for sale as specified in their 2009 agreement.
- Regeneron's royalty starts at 4% and ramps to 15% when annual sales of canakinumab exceed $1.5B.
- Novartis currently markets canakinumab under the brand name ILARIS for the treatment of Juvenile Idiopathic Arthritis.