Genzyme Acquires Campath from Bayer

Genzyme Corp. has completed the transaction with Bayer HealthCare to acquire the worldwide rights to Campath/MabCampath (alemtuzumab). Genzyme is now responsible for the development and commercialization of the drug and is conducting two Phase III studies of alemtuzumab in relapsing-remitting multiple sclerosis (MS) patients.

Genzyme has also acquired the worldwide marketing and distribution rights to oncology drugs Fludara (fludarabine phosphate) and Leukine (sargramostim). Genzyme now has full responsibility for developing and marketing the acquired products and will record sales revenue in the U.S. and more than 90 other countries. The two companies will continue to work together during a transition period following the closing to ensure continued product supply to patients or support services to providers.

“With our broad portfolio of new and existing innovative therapies, combined with a large array of genetic testing services, Genzyme is positioned to offer patients and physicians a comprehensive set of treatment options across the continuum of care for hematologic malignancies,” said Mark Enyedy, president of Genzyme Oncology and Multiple Sclerosis. “In addition, alemtuzumab for multiple sclerosis is a potential significant therapeutic advance for patients, and we are pleased to be leading this program that we expect will provide an important catalyst for the company’s long-term growth.”

In exchange for the rights to alemtuzumab, Genzyme will make payments to Bayer following product approval under an earn-out arrangement based on product revenue. Similarly, in exchange for the rights to Campath, Fludara and Leukine, Genzyme will make future payments based on revenue. Also, Genzyme will acquire a new Leukine manufacturing facility upon FDA approval of the plant, which is expected in 2010.