Auxilium Pharmaceuticals Inc & Pfizer Inc amends XIAPEX Collaboration Agreement in the EU
Nov 08, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Biopharmaceutical company Auxilium Pharmaceuticals Inc (nasdaqgs:AUXL) and Pfizer Inc PFE jointly announced on Wednesday an amendment to the development, commercialisation and supply of XIAPEX in the EU and certain other European and Eurasian countries under their Collaboration Agreement.
This amendment terminates the Collaboration Agreement no later than 24 April 2013 and the rights to commercialise XIAPEX and responsibility for regulatory activities for XIAPEX in these countries will revert to Auxilium.
Prior to the mutual termination date, the partnership will continue to perform all of their obligations under the Collaboration Agreement.
Following termination of the collaboration, Auxilium will recognize USD94m of deferred revenue and USD9m of deferred costs in the fourth quarter of 2012.
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