Merrimack Pharmaceuticals to Get $225 Million Milestone Payment After FDA's Supplemental NDA Approval
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Dow Jones
By Sabela Ojea
Merrimack Pharmaceuticals said it will receive a $225 million milestone payment from Ipsen after the U.S. Food and Drug Administration approved the supplemental new drug application for its pancreatic cancer treatment Onivydee.
The biopharmaceutical company on Tuesday said the payment is due on or before March 29.
The company has received several payments from Ipsen in the past, including a $575 million payment in 2017.
However, it is unlikely that any additional milestone payments from agreements will become payable, Merrimack Pharmaceuticals added.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 13, 2024 17:04 ET (22:04 GMT)
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