HENDERSON, Nev. & LAVAL, Quebec--(BUSINESS WIRE)--
Spectrum Pharmaceuticals, Inc. (NasdaqGS:SPPI), a biotechnology company
with fully integrated commercial and drug development operations and a
primary focus in Hematology and Oncology and Servier Canada Inc., an
affiliate of Servier a research-oriented pharmaceutical company which is
pioneering new therapies primarily for cancer and cardiovascular
diseases, announce the signing of a strategic partnership. As part of
this partnership, Spectrum will grant the exclusive rights to develop
and commercialize in Canada a franchise of four Spectrum hemato-oncology
drugs: ZEVALIN® (ibritumomab tiuxetan) Injection for
intravenous use, Folotyn®(pralatrexate injection), Beleodaq®
(belinostat) for Injection and Marqibo® (vinCRIStine sulfate
LIPOSOME injection) for intravenous infusion. Spectrum will receive $6
million in upfront payments, plus development milestone payments and
royalties based on net product sales.
"We are pleased to announce this strategic partnership with Servier, a
leading company in Canada," said Rajesh C. Shrotriya, MD, Chairman and
Chief Executive Officer of Spectrum Pharmaceuticals. "This deal allows
us to continue to focus on our core priorities including SPI-2012,
Poziotinib, Apaziquone and Evomela™. This year we plan to initiate two
key trials with drugs that target blockbuster markets and we are looking
forward to hearing from the FDA on two of our NDA submissions. We
believe that our pipeline has never been as strong as it is today, and
we continue to focus on executing on our key priorities."
"This strategic partnership between Spectrum Pharmaceuticals and Servier
Canada will contribute to consolidate our global strategy in Oncology.
Our ambition is to become a benchmark player in this field," said
Frédéric Sesini, Executive Vice-President International Operations of
Groupe Servier. "We are fully committed in providing Canadian patients
with innovative treatment options. With this key partnership, Servier
Canada Oncology will start operating and will work to make these
treatments available soon," underlined Frederic Fasano, Chief Executive
Officer of Servier Canada Inc.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a leading biotechnology company focused on
acquiring, developing, and commercializing drug products, with a primary
focus in Hematology and Oncology. Spectrum currently markets five
hematology/oncology drugs, and expects an FDA decision on another
hematology drug in the first half of 2016. Additionally, Spectrum's
pipeline includes three drugs targeting blockbuster markets in advanced
stages of clinical development. Spectrum's strong track record for
in-licensing and acquiring differentiated drugs, and expertise in
clinical development have generated a robust, diversified, and growing
pipeline of product candidates in advanced-stage Phase 2 and Phase 3
studies. More information on Spectrum is available at www.sppirx.com.
About Servier Canada
Servier Canada was created in 1978 and is the Canadian affiliate of
Groupe Servier. It is the third largest operation for Servier, and it
belongs to the top 20 research-based pharmaceutical companies in Canada.
Servier Canada is currently marketing two cardiovascular medicines and
is expecting two approvals in the upcoming months. In line with the
global strategy, an Oncology business unit will support this new
franchise of products and contribute to the diversification of the
portfolio. More information is available at www.servier.ca.
About Groupe Servier
Servier is an independent French-based pharmaceutical company with a
strong international presence in 145 countries. It employs more than
21.000 people. Its development is driven by the pursuit of innovation in
different therapeutic areas. Among others, Oncology is one of the key
priorities of Servier in terms of R&D with currently eight new molecular
entities in clinical development in breast cancer, lung cancer, other
solids tumors and various types of lymphomas and leukemias. In 2014, the
company recorded a turnover of €4 billion. 28% of this turnover was
reinvested in R&D. More information is available at www.servier.com.
Forward-looking statement — This press release may contain
forward-looking statements regarding future events and the future
performance of Spectrum Pharmaceuticals that involve risks and
uncertainties that could cause actual results to differ materially. These
statements are based on management's current beliefs and expectations.
These statements include, but are not limited to, statements that
relate to our business and its future, including certain company
milestones, Spectrum's ability to identify, acquire, develop and
commercialize a broad and diverse pipeline of late-stage clinical and
commercial products, leveraging the expertise of partners and employees
around the world to assist us in the execution of our strategy, and any
statements that relate to the intent, belief, plans or expectations of
Spectrum or its management, or that are not a statement of historical
fact. Risks that could cause actual results to differ include the
possibility that our existing and new drug candidates may not prove safe
or effective, the possibility that our existing and new applications to
the FDA and other regulatory agencies may not receive approval in a
timely manner or at all, the possibility that our existing and new drug
candidates, if approved, may not be more effective, safer or more cost
efficient than competing drugs, the possibility that our efforts to
acquire or in-license and develop additional drug candidates may fail,
our lack of sustained revenue history, our limited marketing experience,
our dependence on third parties for clinical trials, manufacturing,
distribution and quality control and other risks that are described in
further detail in the Company's reports filed with the Securities and
Exchange Commission. We do not plan to update any such
forward-looking statements and expressly disclaim any duty to update the
information contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC.®, FUSILEV®,
FOLOTYN®, ZEVALIN®, MARQIBO®,
and BELEODAQ® are registered trademarks of Spectrum
Pharmaceuticals, Inc and its affiliates. REDEFINING CANCER CARE™,
EVOMELA™ and the Spectrum Pharmaceuticals logos are trademarks owned by
Spectrum Pharmaceuticals, Inc. Any other trademarks are the
property of their respective owners.
© 2016 Spectrum Pharmaceuticals, Inc. All Rights Reserved
View source version on businesswire.com: http://www.businesswire.com/news/home/20160111005344/en/
Shiv Kapoor, 702-835-6300
President, Strategic Planning & Investor Relations
Servier Communication Department
+33 1 55 72 60 37
Nadine Doucet, +450-978-9700 Ext: 4225
Source: Spectrum Pharmaceuticals, Inc.
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