Pharma Deals Review, Vol 2005, No 56 (2005)

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Corixa Hands Over Bexxar® Rights to GSK

Business Review Editor

Abstract


Corixa completed the costly purchase of Coulter Pharmaceutical in order to acquire Bexxar® for the treatment of non-Hodgkin’s lymphoma, whereby it inherited GlaxoSmithKline (GSK) as a developer for antibody therapeutic. After launch of Bexxar, financial necessity forced Corixa to hand over the worldwide rights of Bexxar to GSK. As a consequence of both the deal and implementation of immediate restructure of its operations, Corixa has managed to slash its cash burn.



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