Puma Biotechnology amends license agreement with Pierre Fabre
Puma Biotechnology and Pierre Fabre have agreed to extend the terms of the license agreement in which Puma granted Pierre Fabre exclusive rights to develop and commercialize NERLYNX within Europe and part of Africa. The amended agreement extends Pierre Fabre's commercial rights for NERLYNX to the Middle East, South Africa, Sudan and Turkey. Under the terms of the agreement, Puma will receive an upfront payment of $4M, as well as additional regulatory and sales-based milestone payments totaling up to $3M. Net sales of NERLYNX from the countries in this extension territory will be included in the calculation of payments related to sales milestones and royalties from the original license agreement signed earlier this year.