July 1 (Reuters) - Valeant Pharmaceuticals International Inc (NYSE:VRX)
VRX.TO :
* Valeant Pharmaceuticals announces new licensing
arrangement for Brodalumab in Europe
* Says affiliate and Astrazeneca (LON:AZN) have amended Valeant's
license for Brodalumab
* Amendment for Brodalumab to terminate Valeant's right to
develop and commercialize Brodalumab in Europe
* Astrazeneca has entered into an agreement granting Leo
Pharma exclusive rights to develop and commercialize Brodalumab
in Europe
* Under terms of amended agreement, Valeant will continue to
hold license to develop and commercialize Brodalumab in U.S
* As consideration for termination of European rights,
Astrazeneca to pay to co an upfront payment and certain
sales-based milestone payments
* As consideration for termination of European rights, one
of pre-launch milestones payable by co to Astrazeneca under
original license reduced
Source text for Eikon: ID:nCNWRxSbFa
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