2 Firms Grant Roche Rights to AIDS Drug
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LA JOLLA — Agouron Pharmaceuticals Inc. and Japan Tobacco Inc. granted Roche Holding AG the exclusive right to sell their AIDS treatment in several Asian countries.
Under the agreement, Roche will pay the two companies $2 million each up front and an extra $2 million when the first country approves the drug, known as Viracept.
The countries include China, India, Turkey and Taiwan. Roche will also pay Agouron and Japan Tobacco unspecified royalties.
Swiss drug maker Roche already has the right to sell the treatment in Europe and several other countries.
La Jolla-based Agouron developed Viracept with Japan Tobacco. The drug, which won U.S. approval in March, works by inhibiting an enzyme that helps HIV replicate. HIV is the virus that causes AIDS.
Agouron shares rose 0.75 to 82, while shares of Tokyo-based Japan Tobacco closed down 8,000 yen to 887,000 yen.
Roche dividend right certificates rose 140 Swiss francs to 14,425 francs on the Swiss Exchange.
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