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Astex Pharmaceuticals Earns $5M for Sale of DACOGEN in EU

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Astex Pharmaceuticals (NASDAQ: ASTX) announced that a $5 million dollar milestone was earned from Eisai Inc., for the first commercial sale of DACOGEN® in the European Union.

Dr. James S.J. Manuso, Astex chairman and chief executive officer, commented, "DACOGEN will continue to help patients around the world in the years ahead,…Astex Pharmaceuticals (NASDAQ: ASTX) announced that a $5 million dollar milestone was earned from Eisai Inc., for the first commercial sale of DACOGEN® in the European Union.

Dr. James S.J. Manuso, Astex chairman and chief executive officer, commented, "DACOGEN will continue to help patients around the world in the years ahead, and royalties on its sales will contribute to the funding of our prioritized development programs."

Janssen-Cilag International NV and its affiliates hold marketing and development rights for DACOGEN in all markets except the United States, Canada and Mexico, where rights are maintained by their strategic partner, Eisai Inc. and its affiliates. These marketing rights flow from a worldwide license from Astex Pharmaceuticals to Eisai Inc. Astex receives royalties from Eisai Inc. on the global sales of DACOGEN for any indication starting at 20% and escalating to a maximum of 30%. In accordance with Astex's license agreement with Eisai, Astex may receive up to $12.5 million in future payments if additional milestones are achieved for DACOGEN globally.

See full press release

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