Cardiome Announces Distribution Agreement with Basilea

Cardiome Pharma (NASDAQ:CRME; TSX:COM) entered into a distribution and license agreement with Basilea for its antibiotic Zevtera/Mabelio.
As quoted in the press release:

Under the terms of the agreement, Basilea has granted Cardiome an exclusive license to commercialize ceftobiprole in 34 European countries and Israel. Cardiome will provide Basilea with an upfront payment and additional milestone payments based upon achievement of certain commercial and regulatory milestones.
As a result of the agreement, Cardiome will be responsible for the registration, promotion and commercialization of Zevtera^®/Mabelio^® in the covered countries. The drug is currently marketed in Germany, Italy, the United Kingdom, France, Austria and Switzerland. Cardiome plans to commercialize Zevtera^®/Mabelio^® in every European country where it currently has a direct sales force, with the potential for further distribution and expansion. Zevtera^®/Mabelio^® has shown sales growth since its launch.

Click here to read the full press release.

Source: www.newswire.ca