London-based BTG has signed an agreement with Nycomed US for the marketing rights to CroFab (Crotalidae Polyvalent Immune Fab) and DigiFab (Digoxin Immune Fab), which are used to treat life-threatening digoxin overdoses.
Nycomed is the exclusive distributor of the products in the US until 30 September 2010. BTG will pay Nycomed up to $16.6m, depending on the amount of product delivered to and sold by Nycomed before this date.
The deal provides Nycomed with rights to sell its remaining product inventories for a further six months.
Under the agreement, the companies will cooperate to ensure an orderly transition of the sales, marketing, promotion and distribution functions to BTG.