Progenics Pharmaceuticals, Inc. announced it has extended its agreement with Wyeth (now a subsidiary of Pfizer Inc.) to continue Wyeth's commercialization of Relistor (methylnaltrexone bromide) subcutaneous injection in the United States through at least December 31, 2010.
"The Termination Agreement has been extended to allow us to conclude discussions with companies interested in partnering with us on Relistor and to provide for an appropriate transition of the commercialization activities regarding Relistor to a new partner or partners," said Paul J. Maddon, M.D., Ph.D., Progenics' founder, chief executive and chief science officer.
Under the extension, Wyeth's commercialization efforts in the United States will continue through December 31, 2010, and may be extended at Progenics' option to March 31, 2011. During the extension period, royalty payments on sales of Relistor will not be paid to Progenics.
Outside the United States, Wyeth will continue its Relistor commercialization efforts through at least December 31, 2010 as originally provided for in the Termination Agreement and Progenics will continue to have the option to extend Wyeth's ex-US commercial efforts to March 31, 2011.
Progenics will continue to receive instalments of the $10 million payment provided for in the October 2009 transition agreement.
Relistor is indicated for the treatment of opioid-induced constipation (OIC) in patients with advanced illness who are receiving palliative care, when response to laxative therapy has not been sufficient. Use of Relistor beyond 4 months has not been studied.
Progenics Pharmaceuticals, Inc., of Tarrytown, New York, is a biopharmaceutical company focusing on the development and commercialization of innovative therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases.