In early January, Genzyme Corp. nabbed one of the highest-value specialist cholesterol-busting drugs around: Phase III mipomersen, from Ionis Pharmaceuticals Inc.[See Deal] Genzyme allegedly outbid ten companies for the prize, paying $325 million up front, including $150 million for 5% of Isis’ equity, committing to up to $825 million in development and regulatory milestones and up to $750 million in commercial milestones. It also agreed to give Isis at least 30% of the drug’s profits, and up to half of profits if sales exceed $2 billion.
The Big Biotech needed something to plug a worrying gap likely to appear in its pipeline in 2011/12. And from...
