Schering-Plough Corporation and Millennium Pharmaceuticals, Inc. has signed an agreement to restructure their collaboration for cardiovascular drug Integrilin to optimize the growth potential of this US market-leading GP IIb-IIIa inhibitor.

Under the new relationship, Schering-Plough will acquire exclusive development and commercialization rights to Integrilin in the US. Schering-Plough and Millennium have been co-promoting Integrilin in the United States and sharing profits since 2002.

Under the terms of the agreement, Schering-Plough will pay to Millennium an upfront payment of $35.5 million and royalties over the US lifespan of Integrilin. In 2006 and 2007, minimum royalty payments for each year are set at $85 million, with some extraordinary conditions that could reduce these minimums. In addition, Schering-Plough will pay to Millennium approximately $45-50 million for the purchase of existing Integrilin inventories. The agreement is subject to federal antitrust review under the Hart-Scott-Rodino Act and is expected to become effective September 1, 2005, release from Schering-Plough said.

"Acquiring the balance of US rights to Integrilin will give us direct control of this important therapy in its largest market. This is yet another long-term action we are taking to increase our importance to health providers and patients and to become a global leader in the very important area of cardiac care," Fred Hassan, Schering-Plough chairman and CEO said adding, "Our announcement on Integrilin comes as we continue to see growth of the cholesterol-lowering agents Vytorin and Zetia, and as our innovative thrombin receptor antagonist continues in early-stage trials. We are moving steadily toward our goal."

According to the company release, Schering-Plough will continue to be responsible for commercializing the product in Canada and other international markets excluding Europe. Schering- Plough has been co-promoting Integrilin in the United States and sharing profits since 1998, initially with COR Therapeutics, Inc. and then with Millennium when COR merged with Millennium in 2002.

Schering-Plough reported Integrilin sales of $325 million in 2004, of which $301 million were in the United States. In June 2004, Millennium reacquired European marketing rights to Integrilin from Schering-Plough and licensed those rights to GlaxoSmithKline plc.